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Rs 1255-cr revenue loss in 2008-09: CAG

By Staff Reporter

GUWAHATI, March 5 � The State received 64 per cent of its total receipt in 2008-09 fiscal from the Centre in the form of divisible union taxes, while the rest 36 per cent it raised itself through tax and non-tax revenue, said the Comptroller and Auditor General (CAG) of India in its report on the State�s finances (revenue receipts).

Addressing a press conference here today, Principal Accountant General (Audit), Assam, MP Singh said that the total receipt of the State for the year 2008-09 was Rs 18,077.04 crore of which 36 per cent was raised by the State Government, through tax revenue (Rs 4,150.21 crore) and non-tax revenue (Rs 2,271.90 crore), and the balance 64 per cent was received from the Centre as the State�s share in divisible union taxes (Rs 5,189.90 crore) and grants-in-aid (Rs 6,465.03 crore).

He also elaborated the findings of the CAG assessment of the State�s financial health which has been presented in its reports related to the performance of the State in the areas of revenue receipts, civil and commercial activities during the period.

In its reports on the State�s finances, civil, revenue receipts and commercial for the year 2008-09, the CAG mentions that the State�s loss of revenue amounted to Rs 1,255.24 crore in the year 2008-09.

The report on the State finances pointing out an area of concern regarding the use of funds coming directly from the Centre, suggests putting a monitoring system at the earliest to ensure proper accounting of these funds. The report clearly states that there were instances of misappropriation of these Central funds and recommends bringing all defaulters to book.

This report also recommends to the State Government to keep the debt-GSDP (Gross State Domestic Product) ratio stable.

�The revenue expenditure should not be met out of debts,� said Singh.

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Rs 1255-cr revenue loss in 2008-09: CAG

GUWAHATI, March 5 � The State received 64 per cent of its total receipt in 2008-09 fiscal from the Centre in the form of divisible union taxes, while the rest 36 per cent it raised itself through tax and non-tax revenue, said the Comptroller and Auditor General (CAG) of India in its report on the State�s finances (revenue receipts).

Addressing a press conference here today, Principal Accountant General (Audit), Assam, MP Singh said that the total receipt of the State for the year 2008-09 was Rs 18,077.04 crore of which 36 per cent was raised by the State Government, through tax revenue (Rs 4,150.21 crore) and non-tax revenue (Rs 2,271.90 crore), and the balance 64 per cent was received from the Centre as the State�s share in divisible union taxes (Rs 5,189.90 crore) and grants-in-aid (Rs 6,465.03 crore).

He also elaborated the findings of the CAG assessment of the State�s financial health which has been presented in its reports related to the performance of the State in the areas of revenue receipts, civil and commercial activities during the period.

In its reports on the State�s finances, civil, revenue receipts and commercial for the year 2008-09, the CAG mentions that the State�s loss of revenue amounted to Rs 1,255.24 crore in the year 2008-09.

The report on the State finances pointing out an area of concern regarding the use of funds coming directly from the Centre, suggests putting a monitoring system at the earliest to ensure proper accounting of these funds. The report clearly states that there were instances of misappropriation of these Central funds and recommends bringing all defaulters to book.

This report also recommends to the State Government to keep the debt-GSDP (Gross State Domestic Product) ratio stable.

�The revenue expenditure should not be met out of debts,� said Singh.