Mumbai, 20 December 2023

 

The Annual Accounts of the Government of Maharashtra viz. the Finance Accounts and the Appropriation Accounts have been tabled in the State Legislature today (20.12.2023). The Finance Accounts of the Government of Maharashtra present the financial position of the State along with the details of receipts and disbursements of the Government for the year. The Appropriation Accounts present the sums expended in the year against the provisions specified in the schedules appended to the Appropriation Act.

HIGHLIGHTS

Revenue Deficit:

• The State had a Revenue deficit of Rs. 1,937 crore against the target of maintaining a revenue surplus fixed in the Maharashtra Fiscal Responsibility and Budget Management Act, 2005.

Fiscal Indicators:

• The State’s Fiscal Deficit of Rs 67,602 crore  ( 1.92 per cent of Gross State Domestic Product (GSDP) of Rs 35,27,084 crore) is within the target of three per cent of GSDP fixed as per the Section 5.2 of Maharashtra Fiscal Responsibility and Budget Management Act, 2005. 

Public Debt:

• The total public debt has increased by more than 24 per cent from
  Rs 4,28,482 crore in 2020-21 to Rs 5,32,942 crore in 2022-23.
• Utilisation of Public Debt receipts for servicing of debt showed a decreasing trend from 92 per cent in 2019-20 to 77 per cent in
  2021-22, whereas it slightly increased to 84 per cent in 2022-23.

Personal Deposit Accounts:

The balance as on 31 March 2023, in all the 1,482 Personal Deposit (PD) accounts is Rs 11,254.38 crore.  Out of the 1,482 PD Accounts, 46 Administrators had reconciled and verified their balances with the Treasury figures and 46 annual verification certificates were furnished by them to the Treasury Officer for onward submission to the Accountant General’s office.

Receipts and Disbursements of the Government of Maharashtra as depicted in the Finance Accounts for the year 2022-23 are given below:-

(` in crore)

*    Includes ₹ 60,001 crore on account of ‘Share of Union Taxes/Duties’

 

The Union Government transfers substantial funds directly to State agencies for implementation of various schemes and programmes. As these transfer of funds were not routed through State Budget, they are not reflected in the accounts of the State Government. Though there is no assurance for completeness of the details, the funds so transferred during the year as captured from Public Financial Management System (PFMS) portal of the Controller General of Accounts amounts to Rs 1,27,663.15 crore.

 

Unnecessary/excessive supplementary provisions

• An avoidable extra provision in an estimate is as much a budgetary irregularity as an excess in the sanctioned expenditure. Supplementary provisions aggregating Rs 26,214.03 crore obtained in 38 cases (Rs 10 crore or more in each case) during the year proved unnecessary as the actual expenditure (Rs 1,97,603.11 crore) did not come up to the level of the original provision (Rs 2,41,614.91 crore).

 

Excess expenditure over provision during 2022-23 required regularization

• The excess expenditure over the budget provision during 2022-23 under six grants and two appropriations amounted to Rs 71.66 crore, which requires regularization under Article 205 of the Constitution of India.

Funds borrowed /Loans discharged

• The details of funds borrowed and the Loans discharged during the year are given below: -

(Rs in crore)

Where the Rupee came from   

                                                                                                 (` in crore)                        

Where the Rupee went

  

Provision vis-a-vis expenditure and surrender

• The Budget procedure envisages that the sum provided in an estimate of expenditure on a particular item must be that sum which can be expended in the year and neither larger nor smaller. A saving in an estimate constitutes as much of financial irregularities as an excess in it.

The Appropriation Act, 2022-23 had provisions for gross expenditure of Rs 6,52,809 crore and reduction of expenditure (recoveries) of        Rs 19,594 crore. Against this, the actual gross expenditure was            Rs 5,34,074 crore and reduction of expenditure was Rs 15,157 crore, resulting in net saving of Rs 1,18,735 crore and under estimation of        Rs 4,437 crore on reduction of expenditure. The gross expenditure includes Rs 525 crore drawn on Abstract Contingent (AC) Bills, out of which AC bills valuing Rs 475 crore are outstanding at the end of the year for want of supporting Detailed Contingent (DC) Bills.

 

Persistent Savings

• The persistent saving indicates deficiency in preparation of Budget estimates or budgetary control in the departments. It was noticed that there were persistent savings of more than Rs 100 crore in 41 cases during the last five years, thereby indicating that either the provisions were in excess, or the executive may not have succeeded in implementing the Legislative aspirations.

 

These are prepared by the Accountant General (A&E)-I, Mumbai under the supervision of the Comptroller and Auditor General of India in accordance with requirements of the Articles 149, 150 and 151 of the Constitution of India and the Comptroller and Auditor General’s (Duties, Powers and Conditions of Service) Act, 1971.

 

PRESS BRIEF	FINANCE ACCOUNTS	APPROPRIATION ACCOUNTS	ACCOUNTS AT A GLANCE

                         

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(Source: AG (A&E)-I, Mumbai) | PIB Mumbai | SC/ DR

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