Lauds govt’s financial transparency

The report called for improving the tax management structure and noted,“The ratio of the state¿s own tax revenue to GSDP increased from 6.92 per cent in 2005-06 to 7.21 per cent in 2007-08,but decreased to 7.02 percent in 2009-10. Likewise,the ratio of non-tax revenue to GSDP increased from 1.48 per cent in 2005-06 to 1.88 per cent in 2006-07,but declined to 1.43 per cent in 2009-10.”

The CAG has also expressed concern over the state’s huge fiscal liabilities and debt. “The outstanding fiscal liabilities have shown a steady increase over the years from Rs 71,083 crore at the beginning of 2005-06 to Rs 1,19,117 crore as at the end of 2009-10,” it noted.

The report further noted an overall savings of Rs 2,221.58 crore. “This was off the total savings of Rs 3,232.44 crore being offset by the excess of Rs 1,010.86 crore… Cases were noticed where the amount surrendered were in excess of the actual savings,indicating lack of or inadequate budgetary control.”

Also,22 of the 25 state autonomous bodies delayed submission of accounts. The government has reported 177 cases of misappropriation of government money to the tune of Rs 8.61 croe till March 2010,for which final action is pending.