J-K Govt failed to surrender Rs 7424 crore saved funds: CAG

The Jammu and Kashmir government during 2013-14, failed to surrender saved funds to the tune of Rs 7424 crore which could have been used in the needy sectors, the Comptroller and Auditor General has said.
"The outcome of appropriation audit shows that in 47 cases, the saving exceeded Rs one crore in each case or by more than 20 percent of the total provision," a CAG report on state finances for the year ending March 31, 2014 said.
The report stated that against the total saving of Rs 7424.66 crore, the saving of Rs 6970.06 crore (94 per cent) occurred in 20 cases relating to 16 grants.

As per the Budget manual, the spending departments are required to surrender the grants, appropriations or portion thereof to the finance department as and when the savings are anticipated, the CAG report added.
CAG further revealed that at the close of 2013-14, there were 27 grants and three appropriations in which the savings occurred. However, during the year to which the report pertains to, no surrender of savings was made by the concerned departments, it said.
The savings in these cases was of the order of Rs 7424.66 crore in 47 cases where the savings per case were Rs one crore and above per case.

"Non-surrender of the saving funds deprived the government to transfer these funds to the needy sectors", the report said.