The Ministry of Rural Development has notified a simplified the Asset Register in place of the earlier Asset Register prescribed under Mahatma Gandhi NREGA guidelines. The new asset register, called as Fixed Asset Register (FAR), is a physical form of record that clearly identifies all the assets that have been created under the Mahatma Gandhi NREGA, by undertaking various permissible works listed under Schedule-I of Act or through convergence. The register will be able to quickly retrieve information on an asset, including its description, date, location, convergence scheme, and works performed. This new register will also give the capability to track changes of an asset throughout its life-cycle from the moment it is entered into the register, and then tracking it through its various stages of development. The creation of durable assets and strengthening the livelihood resource base of the rural poor is an important objective of the Mahatma Gandhi NREGA Scheme. The importance of fixed asset register, for registering the durable assets created under any scheme/ programme cannot be overemphasised. We simply tend to lose sight of valuable assets created, in a scenario where there is no well organised register for assets. The list of benefits that can be derived by creating a full fledged asset register are endless, one significant benefit being that one has insights for future planning. Secondly, a good internal control require that we have physical control over our resources. Now, how does one go about implementing control measures if there is no record of what is owned? Lastly, an up-to-date fixed asset register would serve as audit evidence that any inspecting authority may require, to express their opinion on the credibility of any Mahatma Gandhi NREGA works.