Jammu: Painting a grim picture of Jammu and Kashmir’s financial position, the Comptroller and Auditor General of India (CAG) has said expenditure on salaries, interest payments and power deficit accounted for 221 per cent of state’s revenue in 2013-14.
“The expenditure on salaries, wages, pension and other post retirement benefits, interest payments and power deficit is 221 per cent of state’s own revenue (Rs 9,143 crore) in 2013-14,” said a CAG report on the state’s finances for the year ended 31 March, 2014.
It said that it is nearly 63.77 per cent of the total expenditure of Rs 31,686 crore and 80.12 per cent of the total non-plan revenue expenditure of Rs 25,219 crore.
The salaries amounting to Rs 10,843 crore, pensions amounts to Rs 3,592 crore, interest payment accounted for Rs 3,001 crore, besides power deficit of Rs 2,205 crore during the period, it said.
The CAG further said “this creates a persistent scenario of negative balance of the current revenue for financing annual plan of the state”.
It also shows that the plan grants of Rs 38,230 crore from Union government have been diverted for meeting the non-plan expenditure, it said.
The non-plan revenue gap (excess non-plan revenue expenditure over revenue receipts excluding plan grants in aid) in the state government account necessitates diversion of plan grants to fill the gap, it said.
The non-plan revenue expenditure is dominated by four principal constituents- salaries and personal costs of employees, para employees, pensioners, other post retirement benefits, interest payments and power deficit.
PTI
