New Delhi: The Centre hasn't transferred about ₹3.69 lakh crore of cess mop-up over the decades to the relevant funds that are created to ensure these collections are used for the intended purpose, according to the Comptroller and Auditor General (CAG).
"Test check of records revealed aggregate impact of short transfer of ₹3,69,307 crore till March 31, 2024, to the designated reserve funds in the Public Accounts," the CAG said in a statement.
These 'short transfers' date back to cesses levied in 1974, suggesting lapses by successive governments.
The release comes after the statutory auditor submitted its report on the accounts of the Union government in Parliament on Tuesday.
Reserve funds form part of the Public Account of India. These funds are set aside for specific purposes and are generally financed through cess or levy, which, on collection, is credited into the Consolidated Fund of India and transferred to the specified Reserve Fund with Parliament's approval, the CAG said.
"Also, continuance of dormant Reserve Funds and Deposits with an accumulated net credit balance of ₹834.37 crore implies that they have outlived their purpose and need to be reviewed," it added.
"Test check of records revealed aggregate impact of short transfer of ₹3,69,307 crore till March 31, 2024, to the designated reserve funds in the Public Accounts," the CAG said in a statement.
These 'short transfers' date back to cesses levied in 1974, suggesting lapses by successive governments.
The release comes after the statutory auditor submitted its report on the accounts of the Union government in Parliament on Tuesday.
Reserve funds form part of the Public Account of India. These funds are set aside for specific purposes and are generally financed through cess or levy, which, on collection, is credited into the Consolidated Fund of India and transferred to the specified Reserve Fund with Parliament's approval, the CAG said.
"Also, continuance of dormant Reserve Funds and Deposits with an accumulated net credit balance of ₹834.37 crore implies that they have outlived their purpose and need to be reviewed," it added.
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