India, April 27 -- The state higher and technical education department is set to undertake a sweeping financial audit of more than 1,200 aided colleges, requiring them to submit detailed records of funds received and spent over the past decade, the first such comprehensive exercise since 1994.

In order to facilitate the process, the department is developing a dedicated online portal where college principals will upload complete financial data. The audit will cover salary grants for teaching staff as well as the 5% non-salary grants provided to institutions. Colleges will also be required to disclose income generated through student fees and other expenditures.

Officials said the move is aimed at bringing transparency and establishing a ...