The report of Comptroller and Auditor General of India (CAG) on the State’s general, social and economic (Non-Public Sector Undertakings) for the year ended March 2015 has pointed out financial irregularities in State government accounts to the tune of around Rs 9500 crore in Chhattisgarh, said Accountant General (Audit) Chhattisgarh Bijay Kumar Mohanty.
The audit report laid on the table of Chhattisgarh Assembly on Thursday finds the growth rate of Gross State Domestic Product (GSDP) during 2014-15 was 13.20 percent against the 13th Finance Commission’s projection of 12.50 percent, he said while addressing media here on Thursday.
Mohanty further informed that the State had a revenue deficit of Rs 1573 crore during 2014-15 and it failed to maintain zero revenue deficit as envisaged in the 13th Finance Commission and Fiscal Responsibility and Budget Management (FRBM) target.
Fiscal deficit was 3.81 percent (around Rs 8008 crore) of GSDP during 2014-15, which was more than the three percent estimated under FRBM Act and 13th Finance Commission projection, he stated.
During 2014-15, fiscal liabilities of the State (Rs 31181 crore) grew by 25.20 percent over the previous year, said he said, elaborating that the fiscal liabilities were 14.83 percent of GSDP as compared to 13.41 percent of GSDP during previous year, Mohanty said.
The per capita debt has significantly increased by 74 percent from Rs 6632 in 2010-11 to Rs 11549 in 2014-15, highlighted Mohanty.
He further informed that revenue expenditure increased by Rs 6702 crore (20 percent) over 2013-14. In 2014-15, capital expenditure increased by Rs 1970 crore (43 percent) over previous year.
Expenditure of Rs 4824 crore incurred on 167 incomplete projects of Public Works Department and Water Resources Department remained unfruitful as of March 31, 2015, informed Mohanty.
According to Mohanty, as of March 31, 2015, the Chhattisgarh government invested Rs 1872.53 core in government companies, co-operatives, banks, societies etc. The return of investment was 0.05 percent (Rs 0.86 crore) although average borrowing cost of the government was 6.16 percent during the year.
Excess expenditure of Rs 833.54 crore was incurred over provision during 2014-15 in four grants and one appropriation, which requires regularization under Article 205 of the Constitution of India, he said , adding that excess expenditure of Rs 2313.39 crore for the period 2000-14 was still to be regularized.
Advances amounting to Rs 20.97 crore were withdrawn on about six occasions from Contingency Fund during 2014-15 to meet expenditure which was neither unforeseen nor of emergent nature, pointed out the Accountant General.