CAG says States must take steps to maintain proper accounting of subsidies, reduce fiscal deficits, remove revenue deficits

CAG says States must take steps to maintain proper accounting of subsidies, reduce fiscal deficits, remove revenue deficits

• Comptroller and Auditor General of India(CAG) Girish Chandra Murmu has said that States must take steps to maintain proper accounting of subsidies, reduce fiscal deficits, remove revenue deficits, and keep outstanding debts at an acceptable level.

• The state must meet its capital expenditure, including loans and advances, from its own sources of revenue.States must initiate measures to earn adequate returns on their investments and recover their cost of borrowed funds without resorting to implicit subsidies. 

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Published date : 11 Apr 2023 06:05PM