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| No surrender of excess savings leaves more than Rs 26 thousand crore of JK exchequer unspent | | | EARLY TIMES REPORT
SRINAGAR, Oct 9: The inaccuracies in JK’s financial system in the past have led to the non- utilization of Rs 26,833 crore meant for various developmental works in the erstwhile state. The anticipated savings were not surrendered at the end of the year, leaving no scope for utilization of these funds for other development purposes.
As per the official documents, the overall savings of Rs20,436.91 crore was the result of saving of Rs 26,833.97 crore in various grants and appropriations offset by an excess of Rs 6,397.06 crore. Excess expenditure of Rs 1,14,061.35 crore over the approved provision requires regularization under Section 82 of the Constitution of Jammu and Kashmir.
In ten cases, persistent savings of more than Rs one crore and also by ten per cent or more of the total grant was noticed in the last five years. In many cases, the anticipated savings were not surrendered at the end of the year, leaving no scope for utilization of these funds for other development purposes.
The scrutiny of the records has found that over budgeting to this extent both on receipt and expenditure side depicted an incorrect picture of the State Budget. There were also instances of inadequate provisions and unnecessary/ Supplementary Grants besides ‘Rush of Expenditure’ in the last quarter of the financial year, indicating inadequate budgetary control in the departments. No Re-appropriation/Surrenders orders were issued for providing the funds out of anticipated savings to the needy areas/works. Annual review on the working of treasuries showed an excess payment of pension/family pension and gratuity. There is an accumulated balance of Rs 530.71 crore under Minor Head-800–Other Deposits subordinate to Major Head-8443-Civil Deposits at the close of the year which has not been written back to the Major Heads of Account under the Consolidated Fund from which these were originally transferred. During 2017-18, a sum of Rs 2,395.97 crore of Grants-in-Aid, Subsidy of Rs 152.00 crore, Rs 0.43 crore of Stipend & Scholarship, Rs 2.94 crore as Salary and Rs 301.99 crore as Operating Cost of Procurement/Sale of Essential Commodities through PDS were disbursed under Capital Major Heads of expenditure, thereby resulting in an overstatement of Capital Expenditure and understatement of Revenue Expenditure.
Documents also reveal that while issuing the sanction, full classification i.e.
Major Head, Minor Head, Detailed Head etc. should be recorded so that it’s correctly recorded/posted in the relevant heads. Contrary to this, no classification was provided in 14 sanctions involving an amount of Rs 33.08 crore. Further, incomplete classification was also noticed in 53 sanctions involving an amount of Rs 719.16 crore where either Demand Number or Minor Head or Detailed Head was not found recorded in the sanctions. Moreover, wrong classification was noticed in six sanctions involving an amount of Rs 83.73 crore.
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