The Comptroller and Auditor-General of India (CAG) has found fault with the State Government for overstating its revenue surplus and understating fiscal deficit on account of misclassification, non-contribution to statutory funds and classifying subsidies as loans.
The CAG said the State’s revenue surplus pegged at ₹3,459 crore for the year 2017-18 and fiscal deficit ₹26,700 crore, the revenue surplus was overstated by ₹3,743.74 crore while the fiscal deficit was understated by ₹954.6 crore on account of misclassification, non-contribution to statutory funds and classifying subsidies as loans.
“Effectively, there was a revenue deficit of ₹284.74 crore and the fiscal deficit was ₹27,654 crore,” the CAG said in its State Finances Audit Report for the year ended March 2018.
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