Odisha lost Rs 1049 cr for not meeting finance commission guidelines

Bhubaneswar: Odisha lost Rs 1049.15 crore for failing to meet the guidelines laid out by the 13th Finance Commission, revealed the Comptroller and Auditor General (CAG) report tabled in the Assembly today.

32 departments of the State government have not submitted the utlilisation certificate of funds to the tune of Rs 8561 crore to the central government, the CAG said in its report raising concerns about the amount of money the State has lost for not fulfilling the guidelines of the commission.

Similarly, till 2015, around 33 organisations have not submitted utilization certificates pertaining to Rs 20,940 crore.

On the other hand, the amount of borrowing by the State has increased substantially. Total borrowings have increased to Rs 7,646 crore from Rs 2,290 crore while the State government has repaid loans worth Rs 1,818 crore during the same period.

However, the CAG report revealed that revenue receipts increased by 71% in 2014-15 to Rs 56,998 crores from Rs 33,276 crores in 2010-11. The Revenue expenditure has also increased to Rs 5,518 crores. The State government has given priority to capital expenditure, the CAG report pointed out. According to the report, there has been a 43% increase in capital expenditure in the past one year.

By March 31, 2015, the State government had invested Rs 3504. 87 crores in Statutory Corporations, Gramin Banks, joint companies and Cooperative societies.

In the year 2014-15, the Odisha government’s savings were at Rs 18,774.84 crore.