LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Finmin spent Rs 1,157 cr extra in 2017-18 without obtaining prior approval: CAG

The Department of Economic Affairs under finance ministry failed to obtain legislative approval for augmenting provision (for extra expenditure), the report added.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Finmin spent Rs 1,157 cr extra in 2017-18 without obtaining prior approval: CAG
The Public Accounts Committee (PAC) in its 83rd report had also taken serious view on cases of augmentation of provision of object head 'grants-in-aid' and 'subsidies. Reuters
Written By: PTI
Updated: Tue, Feb 12, 2019
03:09 pm
New Delhi, PTI
RELATED NEWS
Girish Chandra Murmu assumes office as CAG Girish Chandra Murmu assumes office as CAG
CAG Delhi recruitment 2019: Fresh vacancies for Clerk, Auditor, Accountant posts - Here's how to apply CAG Delhi recruitment 2019: Fresh vacancies for Clerk, Auditor, Accountant posts - Here's how to apply
'Satyameva Jayate, the truth shall prevail' - Arun Jaitley tweets after CAG report on Rafale deal 'Satyameva Jayate, the truth shall prevail' - Arun Jaitley tweets after CAG report on Rafale deal
NDA deal for 36 Rafale jets 2.86% cheaper than UPAs: CAG NDA deal for 36 Rafale jets 2.86% cheaper than UPAs: CAG
CAG conducting performance audit of GST, report likely soon CAG conducting performance audit of GST, report likely soon

 The Ministry of Finance spent Rs 1,157 crore on various heads during 2017-18 without obtaining prior approval of Parliament, the Comptroller and Auditor General (CAG) report tabled in Parliament Tuesday said.

Excess expenditure aggregating Rs?1,156.80 crore was incurred during 2017-18 without obtaining prior approval of Parliament, the CAG report 'Financial Audit' of the Accounts of the Union Government said.

The report further noted that the Ministry of Finance did not devise a suitable mechanism in respect of new service/new instrument of service, which led to the extra spending.

The Department of Economic Affairs under finance ministry failed to obtain legislative approval for augmenting provision (for extra expenditure), the report added.

"As per the guidelines, any augmentation of provision by way of re-appropriation to the object heads (i) grants-in-aid (ii) subsidies (iii) major works attracts limitation of New Service (NS)/New Instrument of Service (NIS) and hence require prior approval of Parliament," CAG report said.

The Public Accounts Committee (PAC) in its 83rd report had also taken serious view on cases of augmentation of provision of object head 'grants-in-aid' and 'subsidies'.

PAC noted that these serious lapses are a pointer towards faulty budget estimation and deficient observances of financial rules by the ministries/ departments concerned.

Watch This Zee Business Video

There is an imperative need on the part of the Ministry of Finance to devise an effective mechanism for imposing financial discipline on all the ministries/departments so as to avoid recurrence of such serious lapses, CAG report said.

"Despite the PAC recommendations, Ministry of Finance had not devised a suitable mechanism, as result of which, during 2017-18 in cases across 13 grants, there was excess expenditure over total authorisation aggregating to Rs 1,156.80 crore without obtaining approval of Parliament," as per the report. 

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
CAG
RELATED NEWS
Girish Chandra Murmu assumes office as CAG Girish Chandra Murmu assumes office as CAG
CAG Delhi recruitment 2019: Fresh vacancies for Clerk, Auditor, Accountant posts - Here's how to apply CAG Delhi recruitment 2019: Fresh vacancies for Clerk, Auditor, Accountant posts - Here's how to apply
'Satyameva Jayate, the truth shall prevail' - Arun Jaitley tweets after CAG report on Rafale deal 'Satyameva Jayate, the truth shall prevail' - Arun Jaitley tweets after CAG report on Rafale deal
NDA deal for 36 Rafale jets 2.86% cheaper than UPAs: CAG NDA deal for 36 Rafale jets 2.86% cheaper than UPAs: CAG
CAG conducting performance audit of GST, report likely soon CAG conducting performance audit of GST, report likely soon

LATEST NEWS

Gold price: Resistance, support for MCX Gold REVEALED, check crucial levels

Mid Cap Picks with Anil Singhvi: Bombay Burmah, Fine Organic and Gujarat Alkalies are Jay Thakkar's top recommendations

Stock Market Outlook: Nifty, Bank Nifty support range REVEALED; Anil Singhvi says global cues, corona cases and FIIs data will be crucial

7th pay Commission: This is what Centre said about pending DA installments; staffers to get it by 'this' month

In chat with Anil Singhvi, analyst Vikas Sethi recommends Divi’s Lab, Wipro as top buys for BIG GAINS

CBSE exams 2021 cancellation demand: Board has big update for Class 10, 12 students

FD fraud: SBI issues alert for customers, says avoid THESE things or else you will lose money

Indian Railways to provide service as per demand; 1402 specials, 5381 Suburban trains already in operation, says Railway Board chairman

MP Board Class 10, Class 12 admit card 2021 released; Know how to get it, correction window and other important details

Daily Covid-19 cases spike to new record, nears 1.5 lakh infection; Uddhav Thackeray calls all-party meet to review corona situation in Maharashtra

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved