78 personal deposit accounts with unspent balance not closed: CAG
PTI, Dec 27, 2022, 9:02 AM IST
Belagavi: The Karnataka government did not close the 78 personal deposit (PD) accounts with an unspent balance of Rs 4,105.61 crore by the end of last fiscal as mandated under the Karnataka Financial Code, the Comptroller and Auditor General (CAG) has said.
In its audit of the financial accounts of the government, the CAG said such practices were not only violative of the legislative intent but also give room for misuse of public funds.
“At the end of March 31, 2022 there were 78 PD accounts with an unspent balance of Rs 4,105.61 crore, which were not closed as required under Article 286A of the Karnataka Financial Code. Such practices violate legislative intent, which is to ensure that funds approved by the State government for the financial year concerned are spent during the year itself,” the report said.
“Further, not transferring the unspent balance lying in the PD accounts to the Consolidated Fund of the State before the closure of the financial year entails the risks of misuse of public funds, fraud and misappropriation,” the CAG added.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Geethartha Chinthane 101: Understanding of universality eases grief
‘Bengaluru Chalo’ protest demand rejection of Kasturirangan Report
Mangaluru: Cyber frauds posing as TRAI representatives fleece Rs 1.71 crore
10 month baby gets new heart, new life
Saura Swasthya launched: Karnataka to power 5,000 health facilities with solar energy
MUST WATCH
Latest Additions
Mumbai terror accused Rana approaches US Supreme Court to challenge extradition to India
Who will be next Maharashtra CM? Mahayuti, MVA constituents drop different names
Geethartha Chinthane 101: Understanding of universality eases grief
‘Bengaluru Chalo’ protest demand rejection of Kasturirangan Report
Mangaluru: Cyber frauds posing as TRAI representatives fleece Rs 1.71 crore
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.