Tamil Nadu

Tamil Nadu’s revenue, fiscal deficits understated in 2018-19: CAG

Tamil Nadu’s revenue deficit of ₹23,459.44 crore during 2018-19 was understated by ₹3,757.23 crore and fiscal deficit by ₹1,300.49 crore primarily owing to short transfers totalling ₹1,366 crore towards various reserve funds, such as sinking fund and guarantee redemption fund, according to the Comptroller and Auditor-General’s report on State finances for the year ended March 2019. There were also book adjustments of interest receipts to the tune of ₹2,461.48 crore.

The CAG also found that in 20 cases, there was a total expenditure of ₹1.34 crore without appropriation by the legislature either in the original or supplementary estimates, while in 24 cases, an expenditure of ₹8.15 crore was incurred without final modified appropriation.

“As on March 31, 2019, 348 cases of misappropriation, shortages, theft and loss, involving a total amount of ₹14.71 crore, were pending disposal. Out of these cases, 331 were pending for more than 10 years,” the report said. Of these, 170 are awaiting departmental and criminal investigation, departmental action has been initiated but not finalised in 116 cases, 16 have criminal proceedings finalised but the recovery of the amount is pending and 24 are awaiting orders for recovery or write-off, while 22 cases are pending in the courts.

A total of 257 cases have been pending for 21 years and above, and 34 cases are pending between 16 years and 20 years, while 40 cases have been pending for over 11 years.

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Printable version | Aug 2, 2021 5:26:02 AM | https://www.thehindu.com/news/national/tamil-nadu/revenue-fiscal-deficits-understated-in-2018-19-cag/article34958564.ece

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