Decades-Long Financial Oversight in Jammu and Kashmir Unveiled by CAG

The Comptroller and Auditor General (CAG) has revealed that Jammu and Kashmir's government has spent Rs 1.24 lakh crore over four decades without legislative approval. This longstanding unregulated expenditure from 1980-2020 highlights serious financial control lapses, as excess spending undermines budget discipline amid delayed legislative scrutiny.

The Comptroller and Auditor General (CAG) has raised significant concerns about Jammu and Kashmir's financial management, highlighting a staggering Rs 1.24 lakh crore expenditure that remains unapproved by the legislative assembly over nearly four decades.

This expenditure, spanning from 1980 to 2020, calls into question the effectiveness of budgetary oversight in the Union Territory. The lack of approval and regularisation for such a vast amount undermines public resource management and promotes financial indiscipline.

The CAG report outlines that despite Jammu and Kashmir's reorganisation in 2019, the legacy issue of unregulated spending persists. The finance department acknowledges the problem, promising future regularisation, but the delay in legislative scrutiny continues to challenge financial governance.

(With inputs from agencies.)