Budget estimates kept higher than proposed by Depts: CAG

| | Raipur
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Budget estimates kept higher than proposed by Depts: CAG

Friday, 11 January 2019 | Staff Reporter | Raipur

Budget Estimates approved by State Finance Department was much higher than what was proposed by departments resulting in 5 to 25 per cent less achievement under different revenue heads, said Bijay Kumar Mohanty, Chief Accountant General (Audit), Raipur, Chhattisgarh while releasing the three reports of Comptroller and Auditor General of India (CAG) on Thursday.

He was speaking on Revenue sector for the year ended March 31, 2017.

“Total revenue receipts of Government of Chhattisgarh for year 2016-17 were Rs 53,685.25 crore out of which revenue raised was Rs 24,614.46 crore and receipts of Government of India were Rs 29,070.79 crore. Thus revenue raised was 46 percent of the total revenue of government,” he said.

“Revenue earning departments failed to address audit observations included in 2532 Inspection Reports involving potential revenue of as much as Rs 6868.16 crores. Mineral Resources Department caused loss as it did not levy cess and recover differential stamp duty and registration fees, while Transport Department failed to recover outstanding tax, commercial tax (Excise) failed to fix norm for yield of alcohol from grains and others,” he said.

On state public sector undertakings, Mohanty said, “Out of total 23 PSUs, 12 earned profit of Rs 142.38 crore while 7 PSUs incurred losses of Rs 544.84 crore and remaining one PSU had no profit no loss.”

“Against average cost of borrowing of 8.17 per cent, government investment in state PSUs was 3.52 percent resulting in loss of Rs 324.21 crore to government. Three non-working PSUs related to coal had no activity for last three years and had an investment of Rs 333.17 crore,” Mohanty said.

On performance audit of Chhattisgarh Rajya Been Evam Krishi Vikas Nigam Limited, he pointed out, “There was acute shortage of manpower in company. It incurred loss on account of avoidable payment of IT of Rs 4.27 crore due to non-deduction of TDS. Company finalised nine rate contracts (RC) with 27 non-eligible suppliers and 11 RCs with 29 suppliers indulged in collusive bidding causing irregular purchase of Rs 52.96 crore.”

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