GUWAHATI: The Assam budget 2021-22 was “unrealistic and overestimated”.
This statement on the Assam budget was made by the comptroller and auditor general (CAG) of India.
Terming the Assam budget 2021-22 as “unrealistic and overestimated”, the CAG asked the state government to formulate expenses based on “reliable assumptions”.
The CAG also highlighted Assam’s increasing public debt growth rate.
It also recommended the Assam government to reduce revenue expenditure.
In the state finances audit report for the year ended March 31, 2022, tabled in the Assam assembly, the CAG said the actual receipts for the year were Rs 99,548.83 crore against the estimation of Rs 1,19,423.05 crore by the Assam government.
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This restricted the expenditure to Rs 1,07,814.62 crore against estimated spending of Rs 1,36,554.69 crore.
The CAG also asked the Assam government to utilise the allocated resources so as to “avoid inflated budget without actual resources”.
It said Assam’s outstanding debt “rapidly increased” from Rs 49,274.88 crore in 2017-18 to Rs 99,918.54 crore in 2021-22.
“In view of the increasing growth rate of its public debt, the state government may make efforts to augment its own revenues and reduce its revenue expenditure so as to avoid pressure on repayment of public debt and interest liabilities,” the CAG report said.