Contingency fund not yet set up in Manipur : CAG report

Imphal, May 30 (UNI) The Comptroller and Auditor General of India has pulled up the Manipur government for not setting up any contingency fund in the state.

There is no transaction related to contingency fund as it has not been set up so far in the state, the report said.

The report was tabled in the Manipur Legislative Assembly yesterday. Copies of the appropriation and finance accounts were made available to the media today by the Office of the Accountant General (Audit), Manipur.

The report further gave the list of 328 works taken up by the state and not yet completed. It stated that during 2004-05 total receipts amounted to Rs 2192.63 crores, comprising Rs 1742.75 crore revenue receipts and disbursement were Rs 2192.63 crore.

The report added that gross tax revenue of Rs 368.41 and non tax revenue of Rs 69.75 crore formed 9.16 per cent of the GDP and major contribution to revenue were Rs 1304 crore under grants in aid.

Tax receipts were higher than the budget estimates by Rs 8.04 crore and the revenue disbursement net was 41.03 per cent of the Gross Domestic Product (GDP). The capital disbursement was 13.46 percent of the GDP.

The outstanding public debt at the end of 2004-05 was Rs 2255.08 crores and the state also acted as banker and trustee in respect of deposits like small savings collections, provident funds and deposits.

Interest payments on debt and other liabilities totalling Rs 266.43 crore constituted 16.14 per cent of the revenue expenditure.

The total investments as share capital in non financial public sector undertakings stoord at Rs 161.95 crore UNI NS PL DB1518