The Financial management and budgetary control measures of Andhra Pradesh government have come under review of Comptroller and Auditor General of India(C&AG) despite registering a revenue deficit of INR 13,776 crores for 2nd June 2014 to 31st March 2015 period after bifurcation. CAG said state government could not achieve the fiscal reform targets during fiscal 2014-15. The total revenue deficit during 2014-15 fiscal stood at INR 24,194 crores including the period from 1st April to 1st June 2014 before bifurcation, Audit Report states finances for the year ended 31st March 2015. The state's fiscal deficit of INR 31,717 crores at 6.10 % was double the ceiling of 3% prescribed in the Fiscal Responsibility and Budgetary Management Act.
The state total liabilities stood at 32.03 % of the Gross State Domestic Product(GDP) against a ceiling of 27.60 % under the FRBM Act, the CAG pointed out. CAG reports on state finances along with the audit report on revenue sector, local bodies, public sector undertakings, economic sector and general and social sectors, for the financial year ending March 2015 was tabled in the Andhra Pradesh Legislative Assembly today. In the report on state finances, the CAG noted that ‘unfeasible’ budgetary allocations resulted in substantial savings, unnecessary supplementary grants, expenditure without provision and excess re-appropriation, indicating poor budget management.
The entire supplementary provision of INR 33,933 crores proved excessive, as the actual expenditure of INR 1,40,803 crores incurred was less than the total budget provision of INR 1,46,055 crores. But an expenditure of INR 13,134 crores was incurred during 2014-15 without legislative authorisation, the CAG pointed out. Lump sum provisions of INR 3,226 crore without specific details of expenditure were surrendered totally at the end of the year, the CAG added.
Also Read about Salary hike to AP MLA's-Click here

Taaza Vaartha

Get latest online news, taaza, breaking news updates, political, business, entertainment, movies, music, national, international, state news.

Post A Comment: