State

CAG report on State govt’s finances

DIMAPUR, FEB 23 (NPN) | Publish Date: 2/23/2021 12:27:06 PM IST

Comptroller and Auditor General (CAG) of India in its report  for the year ended March 2019 (Analysis of Finances of the State Government) stated that the State registered a Revenue Surplus of Rs. 517.43 crore during 2018-19 but recorded Fiscal Deficit (Rs. 1082.32 crore) which was 4.06 per cent of GSDP and thus exceeded 3 per cent norms fixed by NFRBM Act and 3.25 per cent by XIV FC.

It pointed out that the State’s Own Resources (Own Tax and Non-Tax Resources) were also a meager 10 per cent or less, of the total Revenue Receipts, in last five years. The Capital Expenditure of Rs. 1595.56 crore increased by 25.16 per cent and its ratio to Total Expenditure stood at 12.74 per cent which was less than the combined average (15.69 per cent) of Special Category States.

Revenue Expenditure accounted for 87.22 per cent of the State’s Aggregate Expenditure, leaving only 12.78 per cent for Capital Expenditure for investment in Infrastructure and Asset creation, it added.

The report stated that the overall Development Expenditure of the State decreased by 3.44 per cent in respect of Total Expenditure as compared to previous year. 

On investments of Rs. 294.17 crore in statutory corporations, government companies, joint stock companies and co-operatives, the report said the government yielded a return of just 0.22 per cent while it paid 7.14 per cent on its borrowings. Accumulated losses in five working government companies had completely eroded their paid-up capital, it said.

On Financial Management and Budgetary Control, CAG said that during the year (as on March 20219), there was an overall Saving of Rs. 5311.78 crore only, of which 99.81 per cent was surrendered (Rs. 5301.53 crore). It said that in 27 cases Rs. 5287.64 crore were surrendered on the last two working days of March 2019 indicating inadequate financial control. In 116 Sub-heads, the Surrenders amounted to more than 50 per cent of the Provisions, it said.

It further pointed out that excess expenditure over the allocations amounting to Rs. 723.69 crore pertaining to the years 2012-13 to 2017-18 was not regularised till December 2019.

 

-Tags:#CAG

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