The Chhattisgarh government could not achieve its revenue surplus target during 2019-20 and 2020-21. In 2020-21, revenue deficit of the state was Rs 6,856.66 crore as compared to Rs 9,608.61 crore in 2019-20, states a CAG report.
Chief Minister Bhupesh Baghel on Wednesday tabled the Audit Report of the Comptroller and Auditor General of India (CAG) on State Finances for the year ended on March 31, 2021 in the assembly.
The report states that there was a revenue deficit of Rs 6,856.66 crores for 2020-21. This decreased by Rs 2,147.17 crore (Rs 15,822.38 crore) from Rs 17,969.55 crore in 2019-20.
It states that the percentage of total outstanding debt to GSDP during 2020-21 was (25.58 percent) more than the target prescribed in the Medium Term Fiscal Policy Statement (MTFPS) (21.59 per ent) by the state government but within the target recommended by the XV Finance Commission (28 percent).
Similarly, revenue receipts decreased by Rs 692.52 crore (1.08 percent) from Rs 63,868.70 crore in 2019-20 to Rs 63,176.18 crore during 2020-21.
This was due to a decrease in receipts of state’s non-tax revenue by Rs 796.82 crore (10.04 percent) and Grants-in-aid from the Centre by Rs 798.75 crore (5.87 percent).
The report states that 58 percent of borrowed funds were utilized towards repayment of earlier borrowings. Only 27 percent was used for capital expenditure during 2020-21.
The funding of revenue expenditure from borrowings increased from Rs 3,602.01 crore (11.28 percent) to Rs 5,036.04 crore (15.06 percent) of borrowings during 2020-21 over previous year.