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| In cash-starved JK, PDD incurs Rs 9261 cr loss | | | Peerzada Ummer
Early Times Report
srinagar, Dec 12: The PDD has incurred a loss of Rs 9261 crores in last five years.
The documents in possession of the Early Times reveal that steadily rising gap between the revenue expenditure of the Power Development Department and the revenue receipts is the most significant structural imbalance in the budget of the Government and the drain in the resources with could otherwise be deployed for the developmental outlays.
Records reveal that during the year 2009-10, the target revenue of the PDD was Rs 1065 cr while the actual revenue received by the department was no more than mere Rs 702 cr. The expenditure on the power purchase during that year was Rs 1997 cr, hence leaving the deficit of Rs 1295 cr.
In the year 2010-11, the target revenue of the PDD was Rs 1209 Cr. while the actual revenue received by the department was Rs 822 Cr.. The expenditure on the power purchase during that year was Rs 2310 crores. The deficit during that financial year was recorded as Rs 1488 crores.
For the year 2011-12, the target revenue of the PDD was Rs 1486 Cr. while the actual revenue received by the department was no more than mere Rs 1007 Cr. The expenditure incurred upon the power purchase during that year was a whooping Rs 3000 crores. The State exchequer during that year was drained by rupees 1993 crores by the PDD.
In the year 2012-13, the target revenue set by the PDD was Rs 2387 Cr. while the actual revenue received by the department merely Rs 1589 Cr. The expenditure on the power purchase during that year was Rs 3870 crores. The loss incurred during the year 2012-13 was Rs 2281 crores.
Details in possession of Early Times reveal further that during the financial year of 2013-14, the target revenue set by the PDD was Rs 2841 crore while it received mere Rs 1533 crores. The expenditure incurred upon the power purchase during that year was Rs 3738 crores and the State in that one year lost Rs 2205 crores.
The documents reveal further that every year as the amount which is being spent over the purchase of power has increased in the State, the revenue collection has been dropping seriously. The details also reveal that there has been no serious effort by the Government to minimise the losses and year after year, the losses have only swelled.
What could put the helmsmen in the State in a tight spot is the inaction of the State dispensation in acting against the losses and saving the public money from getting drained with such a dreadful flow.
Sources reveal that there was no major initiative taken by the Government to equip the PDD with manpower so that the revenue collection of the department could increase and the State could be saved from losing more than nine thousand crores in just five years. |
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