CAG Highlights ₹49,649 Crore Unspent Funds in Bihar

quick Summary

• Teh comptroller and Auditor General (CAG) report on Bihar’s finances for 2023-24 highlights meaningful financial irregularities,including:

– ₹49,649 crore in pending Utilisation Certificates (UCs).
– ₹22,130 crore in Abstract Contingency Bills awaiting Detailed Contingency submissions.
– Off-budget borrowings of ₹53.48 crore not accounted for in the Consolidated Fund but requiring budgetary repayment.

• The top five defaulting departments regarding pending UCs are Panchayati Raj, Education, Urban Growth, rural Development, and Agriculture departments.
• Unadjusted temporary advances of ₹184.52 crore and imprests worth ₹25.46 crore remain unresolved across multiple departments.
• Public Accounts Committee (PAC) inactivity: Out of 388 audit report paragraphs from previous years until March 2024, only three were discussed.
• Financial trends:

– Budget outlay increased from ₹1.49 lakh crore in 2019-20 to ₹2.60 lakh crore in 2023-24; actual expenditure covered nearly 80% of the allocated budget though savings & surrenders totaled over ₹65,000 crores
-Growth Rate surpassed revenue flows marginal use cases.

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