Published Paper Details:

This study has been undertaken to investigate the determinants of revenue generation and financial performance in the e-GramPanchayath system, using two analytical frameworks: the traditional Financial Ratio Analysis and an Econometric Model based on Arbitrage Pricing Theory (APT). To test the financial model, basic revenue indicators such as tax collections and service charges are used, while macroeconomic variables are applied in the APT framework. The macroeconomic variables include inflation, rural employment rate, government grants, and agricultural output. For this purpose, monthly time series data has been compiled from January 2015 to December 2020 from various Gram Panchayath records and government databases. The analytical framework includes both correlation analysis and regression modeling to identify the significant factors influencing revenue trends and financial sustainability in local governance systems.