Public Accounts Committee flags failure to transfer ₹9,222 crore in cess collections to designated reserve funds
The Public Accounts Committee (PAC) of Parliament has flagged the government's failure to transfer ₹9,222 crore in cess collections to their designated reserve funds. Committee members questioned the Finance Ministry's explanation. PAC chairman K.C. Venugopal stressed that cess proceeds must be used for their intended purpose and must not be diverted to finance the fiscal deficit.
Nabka Insight
The PAC's oversight of cess collections and fund utilisation is a core polity-and-economy topic.
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- Amount flagged: ₹9,222 crore in cess collections not transferred to reserve funds.
- PAC chairman: K.C. Venugopal.
- Concern raised: cess proceeds should not finance the fiscal deficit.
- The Finance Ministry's explanation was questioned by the committee.
Background
Relevant forBanking · SSC · State PSC · UPSC