Today in Gujarat Assembly on final day of Budget Session Report of Comptroller And General of India (CAG) was tabled and discussion on it was made. In year 2014-15 state’s deficit remained at Rs 18,320 cr with slight reduction of Rs 102 cr by interest payment of Rs 1,614 cr.
From 2010-11 to 2014-15 time frame initial expenditure was not added to nondebt income therefore initial debt has remained intact. Initial debt has reduced from Rs 5,090 cr to 3,374 cr. Investments during 2013-14 it was Rs 11,923 cr and in 2014-15 it was Rs 12,302 cr. Big cash surplus is a result of big debt borrowings.
Increase in Agricultural expenditure was seen. Expenditure of Rs 57,440 cr in 2010-11 rose to Rs 86,652 cr in year 2014-15 whereas comprehensive drop in GDP was observed.
Developmental expense of Rs 47,482 cr in year 2010-11 rose to Rs 79,684 cr in year 2014-15. With an average developmental expense going from 70.02 % in year 2010-11 to 71.68 % in year 2014-15.
Government has invested worth Rs 62,929 cr in corporations, rural banks, partnership firms, cooperatives. In last 5 years earned 0.28 % rebate. Average 7.65 % interest paid during 2010-11 to 2014-15 time frame. Rs 3, 364 cr profit was booked in 46 PSUs in 2013-14. 90 cr dividend received during 2014-15 from PSUs. Government has 16 reserved funds out of which 6 funds are absolutely unutilised. As on March 30, reserves were Rs 14,558.41 cr whereas Rs 9,033 cr were invested. Specific grants by concerned departments were not regulated adequately. Utilisation Certificates for Rs 8,160.78 cr were not produced before CAG. Some indepenent agencies have not submitted their accounts or have delayed in submitting bills. On Emergent Expenses of Rs 582.52 cr proper challans were not submitted. Lack of efforts in controlling irregularities, loss by concerned departments were observed.
