CAG asks Delhi govt to take measures to recover loans

| Thursday, March 31, 2016 - 23:21
First Published |

CAG has recommended to the Delhi government to take effective measures to recover outstanding loans

New Delhi: The Comptroller and Auditor General (CAG) of India has recommended to the Delhi government to take effective measures to recover outstanding loans.
"The total expenditure during 2014-15 at Rs.29,593.37 crore has decreased by Rs.3131.94 crore (9.57 percent) over the previous year. Of the total decrease, capital expenditure constituted Rs.303.48 crore and loans and advances constituted Rs.3,972.43 crore," said the CAG report for 2014-15 which was tabled in the Delhi assembly on Thursday.
The report said the revenue receipts had increased by Rs.1,603.90 crore (5.73 percent) while tax revenue increased by Rs.685.21 crore.
"The government should take effective measures to recover outstanding loans from the entities/institutions. It should also consider increasing the capital expenditure to have positive impact on economic growth," the CAG report recommended.
The report also pointed out that Rs.6,093.85 crore remained unutilised in the financial year 2014-15.
"Against total provision of Rs.3,717.99 crore during 2014-15, an expenditure of Rs.31,024.14 crore was incurred which resulted in savings of Rs.6,093.85 crore," the report said.
"The government may consider taking up the matter with Public Account Committee Secretariat for regularisation of excess expenditure. It is also recommended to prepare realistic budget estimates to avoid large savings and supplementary provisions," the report suggested. 

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