NEW DELHI, Mar 28:The revenue receipts of Jammu and Kashmir in 2021-22 increased by 13 per cent as compared to the previous year but it still fell short of the budget estimates by 39 per cent, the Comptroller and Auditor General (CAG) said today.Presenting the Union Territories Finances Audit Report for the year ending March 31, 2022 in Parliament, the federal auditor said the Government of Jammu and Kashmir had an outstanding liability of Rs 29,335.41 crore.Besides, there are outstanding borrowings amounting to Rs 2,122.77 crore of Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC) and Rs 10,321.83 crore of J&K Power Corporation Limited.“During 2021-22, revenue receipts increased by 13 per cent with respect to last year, but it fell short of budget estimates by 39 per cent. The UT’s own tax revenue increased by 32 per cent and non-tax revenue increased by 19 per cent with respect to previous year,” the CAG stated.It said there was an increase in revenue receipts by Rs 6,742 crore and increase in revenue expenditure by Rs 6,635 crore with respect to previous year which resulted in reduction of revenue deficit to Rs 31 crore from Rs 138 crore the year before.“The increase in capital expenditure by Rs 589 crore was major contributor in increase of fiscal deficit. The government could not keep its fiscal deficit and primary deficit within the projections estimated in the budget. Against projection of revenue surplus of Rs 28,337 crore in budget there was revenue deficit of Rs 31 crore during 2021-22,” the report stated.It said Rs 42,690.77 crore grants-in-aid from the central government constituted 72.07 per cent of the total revenue receipts of Rs 59,238.50 crore for 2021-22.The total committed expenditure accounted for 75.93 per cent of revenue expenditure during 2021-22, the report said.It said there was revenue deficit of Rs 30.83 crore in the accounts of Jammu and Kashmir for the year 2021-22 which was understated by Rs 200.29 crore due to misclassification of revenue expenditure as capital expenditure, non-payment of interest on state compensatory afforestation fund and deposit.“There was fiscal deficit of Rs 11,150.61 crore during 2021-22 which was understated by Rs 41.53 crore due to non-payment of interest on state compensatory afforestation fund and state compensatory afforestation deposit,” it said.
