An increase of 16.54 percent in gross revenue receipts was primarily on account of a substantial increase in both tax revenue receipts and non-tax revenue receipts over previous year
GN Bureau | January 7, 2017
“Opaqueness was noticed in 32 receipts and expenditure major heads wherein more than 50 percent of total expenditure and receipts were recorded under minor head - Other Expenditure/Other Receipts,” said the Comptroller and Auditor General (CAG) in a report on the accounts of the union government, which analyses the finances of the government for the year 2015-16.
CAG said that the financial position of the union government in 2015-16 was characterised by an increase of 16.54 percent in gross revenue receipts primarily on account of a substantial increase in both tax revenue receipts (16.93 percent) and non-tax revenue receipts (15.39 percent) over previous year.
The revenue expenditure grew by 4.98 percent during 2015-16 as against 7.62 percent in 2014-15. Expenditure on General Services constituted 45.22 percent of the revenue expenditure in 2015-16.
The report said that the revenue deficit for the year 2015-16 was 2.53 percent of GDP against the 2.93 percent of GDP in 2014-15. The revenue deficit of 2.53 percent of GDP was around the same level as outlined by the Fourteenth Finance Commission. The fiscal deficit for the year 2015-16 was 4.31 percent of GDP against the 4.13 percent of GDP in 2014-15.
“Thirteen regulatory bodies and autonomous bodies which also act as regulators in their respective field, had retained funds generated through fee charges, unspent grants received from government of India, interest accrued on government grants, receipt of license fees, corpus fund, etc. aggregating Rs 3,973.10 crore at the end of March 2016, outside the government account, contrary to the instructions issued by the ministry of finance in January 2005,” it added.
The report went on to say that against the total collection of Rs 73,468.52 crore as Secondary and Higher Education Cess (SHEC) in the CFI during 2006-07 to 2015-16, no amount could be transferred to the earmarked fund in Public Account as neither the schemes were identified on which the cess proceeds were to be spent nor the designated fund was opened in the Public Account to deposit the proceeds of SHEC.
“Total loan of Rs 2,56,353.52 crore was outstanding against State/UT Governments and other entities as on March 31, 2016. Out of this, repayment of Rs 26,333.68 crore was in arrears ranging from 2 to 50 years, which includes Rs 11,321.87 crore in arrears for more than 20 years (cases of more than Rs 10 crore).”
The CAG report pointed out that “no money shall be withdrawn from the Consolidated Fund of India (CFI) except under appropriations made by law. However, during 2015-16, there were excess disbursements of Rs 286.24 crore over the authorisation from CFI. In civil ministries/departments the excess was Rs 210.37 crore in two segments of two grants/appropriations; and in the ministry of railways Rs 75.87 crore in six segments of six grants/appropriations. These excess disbursements require regularisation under Article 115(1)(b) of the Constitution”.
Read the full report here
With commissioning of 800 MW unit at Kudgi in Karnataka, 250 MW unit at Bongaigaon in Assam and 20 MW at Bhadla solar in Rajasthan, the total installed capacity of National Thermal Power Corporation (NTPC) group has reached to 49,943 MW. The 12th plan cap
Aadhaar is arguably one of the most convoluted public policy interventions in India’s history. It has been more than eight years, yet there is little clarity on the exact purpose of the biometric-based unique identification project. Let me take you through an event which I witne
The airports authority of India (AAI), a Miniratna PSU, has undertaken operation, development and maintenance of Diu airport from Diu administration. A memorandum of understanding demonstrating the responsibilities was inked on March 20 between the union terri
Central public sector enterprises (CPSEs) have done quite well despite facing headwinds, according to the Public Enterprises Survey (2015-16) that was tabled in parliament on March 21. The net worth of all the CPSEs have gone up and the overall net profit has zoomed. Their contribution to the cen
After much discussion and pondering over for more than two years, the cabinet has approved a new National Health Policy, scrapping the old one which was formulated in 2002. The government aims to increase the public health expenditure to 2.5% of the GDP by 2025. The policy formulated in 2002 aimed
“We have requested more security from the government of India and the Uttar Pradesh government,” said Abdou Ibrahim, senior adviser, Association of African Students (AASI) following an attack on four students from Africa in Greater Noida, Uttar Pradesh. &n