CAG Criticises Bihar's Financial Mismanagement Over Rs 70,877 Crore

The Comptroller and Auditor General (CAG) has criticized the Bihar government for failing to provide utilization certificates for Rs 70,877 crore. The report, tabled in the state assembly, warns of risks like embezzlement and stresses on the need for financial discipline by highlighting delays in submitting DC Bills.

The Comptroller and Auditor General (CAG) has issued a scathing critique of the Bihar government for its failure to submit utilization certificates for funds totaling Rs 70,877 crore. The CAG's report on state finances, presented in the Bihar assembly for the 2023-24 fiscal year, underscores crucial lapses in financial accountability.

According to the report, the lack of submitted UCs casts doubt on whether the disbursed funds have been used appropriately, raising the specter of embezzlement and fund misuse. Alarmingly, Rs 14,452.38 crore of the pending amount pre-dates 2016-17, with major delinquencies seen in departments like Panchayati Raj and Education.

In addition, Rs 9,205.76 crore in DC Bills remain pending, further violating financial protocols. Despite a budget of Rs 3.26 lakh crore, only 79.92% was spent, escalating state liabilities by 12.34% annually. The state also failed to meet fiscal targets set by the XVth Finance Commission.

(With inputs from agencies.)