diff --git a/aios/scheduler/ledger.py b/aios/scheduler/ledger.py
new file mode 100644
index 000000000..d61c143b2
--- /dev/null
+++ b/aios/scheduler/ledger.py
@@ -0,0 +1,86 @@
+import math
+import logging
+from dataclasses import dataclass, field
+from typing import Dict, List, Optional
+
+logger = logging.getLogger("AIOS.Scheduler.Ledger")
+
+@dataclass
+class AgentRecord:
+    agent_id: str
+    priority: str = "NORMAL"  # HIGH, NORMAL, LOW
+    weight: float = 1.0       # Used for Fair-Share / Stride scheduling
+    arrival_time: float = 0.0
+    wait_ticks: int = 0
+    service_count: int = 0
+    total_service_time: float = 0.0
+
+class AgentLedger:
+    """
+    Tracks per-agent scheduling state, accounting metrics, 
+    and quantitative fairness evaluations for AIOS scheduling policies.
+    """
+    def __init__(self):
+        self.agents: Dict[str, AgentRecord] = {}
+
+    def register_agent(self, agent_id: str, priority: str = "NORMAL", weight: float = 1.0, arrival_time: float = 0.0) -> AgentRecord:
+        if agent_id not in self.agents:
+            self.agents[agent_id] = AgentRecord(
+                agent_id=agent_id,
+                priority=priority,
+                weight=weight,
+                arrival_time=arrival_time
+            )
+            logger.info(f"Registered agent {agent_id} with priority {priority} and weight {weight}.")
+        return self.agents[agent_id]
+
+    def update_waiting_ticks(self, queued_agent_ids: List[str]) -> None:
+        """Increment wait_ticks for all requests currently waiting in the scheduler queue."""
+        for agent_id in queued_agent_ids:
+            if agent_id in self.agents:
+                self.agents[agent_id].wait_ticks += 1
+
+    def record_service(self, agent_id: str, service_count: int = 1) -> None:
+        """Record when an agent is selected and receives scheduling service."""
+        if agent_id in self.agents:
+            self.agents[agent_id].service_count += service_count
+            logger.debug(f"Agent {agent_id} service count updated to {self.agents[agent_id].service_count}.")
+            
+    def get_wait_ticks(self, agent_id: str) -> int:
+        return self.agents[agent_id].wait_ticks if agent_id in self.agents else 0
+
+    def calculate_jains_fairness_index(self) -> float:
+        """
+        Computes Jain's fairness index across all registered agents 
+        based on their service counts (allocations).
+        Formula: J = (sum(x_i))^2 / (n * sum(x_i^2))
+        """
+        allocations = [record.service_count for record in self.agents.values()]
+        n = len(allocations)
+        if n == 0:
+            return 1.0
+        
+        sum_x = sum(allocations)
+        sum_x_sq = sum(x ** 2 for x in allocations)
+        
+        if sum_x_sq == 0:
+            return 1.0
+            
+        fairness_index = (sum_x ** 2) / (n * sum_x_sq)
+        return float(fairness_index)
+
+    def generate_report(self) -> Dict:
+        """Provides structured observability reporting for per-agent statistics."""
+        report = {
+            "agents": {
+                aid: {
+                    "priority": rec.priority,
+                    "weight": rec.weight,
+                    "wait_ticks": rec.wait_ticks,
+                    "service_count": rec.service_count
+                }
+                for aid, rec in self.agents.items()
+            },
+            "jains_fairness_index": self.calculate_jains_fairness_index()
+        }
+        return report
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diff --git a/tests/test_ledger.py b/tests/test_ledger.py
new file mode 100644
index 000000000..384a6a730
--- /dev/null
+++ b/tests/test_ledger.py
@@ -0,0 +1,42 @@
+import pytest
+from aios.scheduler.ledger import AgentLedger
+
+def test_agent_registration_and_waiting_accounting():
+    ledger = AgentLedger()
+    ledger.register_agent("agent_1", priority="LOW", arrival_time=0.0)
+    
+    assert ledger.get_wait_ticks("agent_1") == 0
+    
+    # Simulate queue waiting ticks update
+    ledger.update_waiting_ticks(["agent_1"])
+    ledger.update_waiting_ticks(["agent_1"])
+    
+    assert ledger.get_wait_ticks("agent_1") == 2
+
+def test_service_accounting():
+    ledger = AgentLedger()
+    ledger.register_agent("agent_A")
+    ledger.record_service("agent_A", service_count=5)
+    
+    report = ledger.generate_report()
+    assert report["agents"]["agent_A"]["service_count"] == 5
+
+def test_jains_fairness_index():
+    ledger = AgentLedger()
+    ledger.register_agent("agent_1")
+    ledger.register_agent("agent_2")
+    
+    # Perfectly equal allocation should give fairness index = 1.0
+    ledger.record_service("agent_1", 10)
+    ledger.record_service("agent_2", 10)
+    assert pytest.approx(ledger.calculate_jains_fairness_index(), 0.01) == 1.0
+    
+    # Unequal allocation
+    ledger2 = AgentLedger()
+    ledger2.register_agent("agent_1")
+    ledger2.register_agent("agent_2")
+    ledger2.record_service("agent_1", 20)
+    ledger2.record_service("agent_2", 10)
+    
+    # J = (30)^2 / (2 * (400 + 100)) = 900 / 1000 = 0.9
+    assert pytest.approx(ledger2.calculate_jains_fairness_index(), 0.01) == 0.9
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