Centre Did Not Transfer Nearly 40% Of The Cesses To The Designated Funds: CAG Report

Out of the Rs 2,74,592 crore received from 35 cesses, levies and other charges in 2018-19, only Rs 1,64,322 crore had been transferred to reserve funds/ boards during the year and the rest was retained in the CFI (Consolidated Fund Of India)”, In a Report said Comptroller and Auditor General Of India. That mean, 40% of cess collections not going to designated funds. “not only was the revenue/ fiscal deficit understated due to the non-transfer of these amounts to reserve funds, failure of the ministry of finance to create/operate essential Reserve Funds makes it difficult to ensure that the cesses etc, had been utilised for the specific purposes intended by Parliament.” also said CAG in their report. Last year too, the CAG had reported that devolution of integrated GST of close to Rs 68,000 crore to states and UTs was inconsistent with the legal provisions.

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