CAG Unveils Financial Lapses in Jammu and Kashmir Budgeting

The Comptroller and Auditor General of India has highlighted serious financial management violations by Jammu and Kashmir's government departments, exposing unutilized funds amounting to over Rs 34,000 crore for the fiscal year 2023-24. The CAG report emphasized a lack of compliance with the budgetary surrender norms and flagged this as a significant concern for financial discipline.

Adopting a critical tone, the report detailed that a portion of the allocated budget—80 percent in some cases—remained unspent across various key departments such as Tribal Affairs, Public Health Engineering, and Industries and Commerce. Additionally, Rs 5,214.45 crore were used under 35 schemes without budgetary approval, while an excess expenditure of Rs 19,610.17 crore went without proper regularization.

Reacting to these findings, the Finance Department claims the savings stemmed from reduced receipts and capital expenditures. The CAG has urged the government to practice realistic budgeting, enhance financial oversight, and ensure prompt regularization of excess spending to maintain financial discipline.