There were 138 incomplete projects as on March 31, 2012 pertaining to 18 departments, said Comptroller and Auditor General (CAG) report on the financial performance of Nagaland during 2011-12 which was tabled in the assembly on Monday. <\/p>\n
Out of 138 incomplete projects, 57 were due to be completed by March 2012 in which Rs. 32631 crore were blocked. The date of the completion of the remaining 81 projects could not be furnished by the departments.<\/p>\n
According to the CAG executive summary of the report, the overall revenue expenditure of the state in 2011-12 increased by Rs. 687.56 crore (16.42%) over the previous year. <\/p>\n
The revenue expenditure constituted 79.56% of the total expenditure while the expenditure incurred under capital head constituted 20.39%.<\/p>\n
Moreover, development expenditure of Rs. 2246.10 crore in 2008-09 increased to Rs. 3573.45 crore in 2011-12. However, its share in aggregate expenditure decreased from 60.82% to 58.33% during the period.<\/p>\n
![](\"http:\/\/cms.nagalandpost.com\/newsimages\/PhotosCollection\/PSAIYOWURPFDLTYCQHGB.jpg\")
\n<\/div>\nThe ratio of development expenditure as a proportion to aggregate expenditure had come down by 1.68% in 2011-12 as compared to the year 2008-09 which indicated that the state had given lower priority to this category of expenditure during the year 2011-12 as compared to 2008-09. <\/p>\n
The share of committed expenditure in the non-plan revenue expenditure was 58.87% of the revenue receipts.<\/p>\n
In its recommendation, the CAG report said the state needs to accord higher priority to its development expenditure considering the reduction in revenue expenditure. <\/p>\n
It recommended that the state also needed to ensure timely and effective implementation of incomplete projects.<\/p>\n
On the oversight of funds transferred directly from the Government of India to the state implementing agencies, the CAG report said during 2011-12, an approximate amount of Rs. 1284.05 crore was directly transferred by the government of India to state implementing agencies. <\/p>\n
It said that as long as these funds remained outside the state budget, there was no single agency monitoring its use.<\/p>\n
The report said the government had invested Rs. 228.01 crore in statutory corporations, rural banks, joint stock companies and co-operatives at the end of March 2012 however the average returns of this was NIL during the last five years.<\/p>\n
The report recommended that the government should ensure better value for money in investment by identifying the companies\/corporations which were endowed with low financial but high socio-economic returns. <\/p>\n
The government should also justify if high cost borrowings were worth being channelized in the same. <\/p>\n
The CAG report suggested that initiatives may be taken to revive or close down or sell out the huge loss making corporations\/companies.<\/p>\n","protected":false},"excerpt":{"rendered":"
There were 138 incomplete projects as on March 31, 2012 pertaining to 18 departments, said Comptroller and Auditor General (CAG) report on the financial performance of Nagaland during 2011-12 which was tabled in the assembly on Monday. Out of 138 incomplete projects, 57 were due to be completed by March 2012 in which Rs. 32631 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[679],"tags":[],"class_list":["post-89516","post","type-post","status-publish","format-standard","hentry","category-nagaland-news"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/89516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=89516"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/89516\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=89516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=89516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=89516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}