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Article 297 of the Kerala Financial Code provides that cases of defalcation or loss of public money, stamps, stores or other property should be reported to the Accountant General (General and Social Sector Audit)/Accountant General (Economic and Revenue Sector Audit), Kerala as well as to the Heads of Departments.

In 2023-24, Kerala is estimated to spend INR 94,649 crore on committed expenditure, which is 70% of its estimated revenue receipts. This comprises spending on salaries (30% of revenue receipts), pension (21%), and interest payments (19%).

Inspection Reports (Article 63 )(c ) The head of the office should be available in the office during the course of inspection and audit Office will discuss with him serious irregularities. Certain objection can be properly answered there itself.

An advance amount equal to 15 times of the basic pay subject to a maximum of Rs. 1,50,000/- and Rs. 1,00,000/- shall be sanctioned respectively to Class IV employees and Part time contingent employees to meet the marriage expenses of their female children.

Kerala Financial Code deals with rules relating to all financial transactions of Government receipt, custody and disbursement of government money.

In 2021-22, as per the revised estimates, fiscal deficit is expected to be 4.17% of GSDP, higher than the budget estimate of 3.50% of GSDP. Revenue deficit for 2022-23 is estimated to be Rs 22,968 crore, which is 2.30% of the GSDP.