Rs709 Billion in Bihar Funds Unaccounted: CAG
ECONOMY & POLICY

Rs709 Billion in Bihar Funds Unaccounted: CAG

The Comptroller and Auditor General’s (CAG) report on State Finances for 2023–24 was tabled in the Bihar State Assembly on Thursday, highlighting serious lapses in financial accountability.

According to the report, 49,649 utilisation certificates (UCs) amounting to Rs709 billion were outstanding as of 31 March 2024. The report noted that in the absence of these UCs, there is no assurance that funds released were actually used for their intended purposes.

"High pendency of UCs poses a significant risk of embezzlement, misappropriation, and fund diversion," the CAG observed. Notably, Rs145 billion of the pending amount pertained to grants released before 2016–17.
The departments with the highest number of defaults include:
  • Panchayati Raj
  • Education
  • Urban Development
  • Rural Development
  • Agriculture
Additionally, the report flagged that Detailed Contingent (DC) Bills were not submitted for 22,130 Abstract Contingent (AC) Bills, amounting to Rs92.06 billion. Non-submission of these DC bills violates financial discipline and raises the risk of public funds being misused.

For FY24, Bihar’s total budget stood at Rs3.26 trillion, of which Rs2.60 trillion, or 79.92 per cent, was spent. The government surrendered only Rs238.76 billion of its total Rs655.12 billion in savings.

The report also noted that Bihar’s overall liabilities grew by 12.34 per cent year-on-year, with internal debt forming 59.26 per cent of the total liabilities. Net internal debt itself saw a 13.51 per cent rise compared to the previous fiscal. 

The Comptroller and Auditor General’s (CAG) report on State Finances for 2023–24 was tabled in the Bihar State Assembly on Thursday, highlighting serious lapses in financial accountability.According to the report, 49,649 utilisation certificates (UCs) amounting to Rs709 billion were outstanding as of 31 March 2024. The report noted that in the absence of these UCs, there is no assurance that funds released were actually used for their intended purposes.High pendency of UCs poses a significant risk of embezzlement, misappropriation, and fund diversion, the CAG observed. Notably, Rs145 billion of the pending amount pertained to grants released before 2016–17.The departments with the highest number of defaults include:Panchayati RajEducationUrban DevelopmentRural DevelopmentAgricultureAdditionally, the report flagged that Detailed Contingent (DC) Bills were not submitted for 22,130 Abstract Contingent (AC) Bills, amounting to Rs92.06 billion. Non-submission of these DC bills violates financial discipline and raises the risk of public funds being misused.For FY24, Bihar’s total budget stood at Rs3.26 trillion, of which Rs2.60 trillion, or 79.92 per cent, was spent. The government surrendered only Rs238.76 billion of its total Rs655.12 billion in savings.The report also noted that Bihar’s overall liabilities grew by 12.34 per cent year-on-year, with internal debt forming 59.26 per cent of the total liabilities. Net internal debt itself saw a 13.51 per cent rise compared to the previous fiscal. 

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement