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. 

Next Story
Resources

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Next Story
Real Estate

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Next Story
Real Estate

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement