Tuesday, April 28, 2015

Panel Packs a Punch on Railway Finances


NEW DELHI: Holding the Railways’ sloppy financial management as the reason for defective budgeting over the years, the Public Accounts Committee (PAC) of Parliament said the excess expenditure above the original grants had become a recurring phenomenon.

The PAC headed by Congress MP K V Thomas said in its report tabled in Parliament that the Railways was unable to meet its operational cost of passenger and other services during 2011-12.“The excess expenditure in 2010-11 reached a huge sum of Rs 3,056 crore as it rose from Rs 1,922 crore in 2009-10 after being calculated as Rs 532 crore during 2008-09. Such expenditure as is incurred in excess of sanctioned estimates is treated as unsanctioned expenditure,” it said.
The PAC also noted that the funds allocated were not being optimally utilised, thus defeating the objective behind the exercise. It was also learnt that despite the availability of the latest IT tools for collecting and analysing data, the Railways was not able to properly assess its Budgetary requirements. The PSU giant’s financial position too did not improve despite the excess expenditure of more than Rs 1,000 crore as was evident from the negligible negative balances with which Railways depreciation reserve fund, pension fund, development fund and capital fund closed in 2011-12, it said, adding that instances of misclassification of expenditure occurred regularly in the accounting system.
Railways should review its internal control mechanisms and strengthen them if need be for ensuring compliance with the rules and regulations.  which have been laid down for effective budgeting and proper fiscal reporting.
Rly Revenue Loss Due to Theft
New Delhi: Railways suffered nearly Rs 33 lakh revenue loss due to theft of scrap during 2012-14, Minister of State for Railways Manoj Sinha informed Parliament. He listed out a series of measures taken by the ministry to contain the problem. The highest amount of revenue loss of Rs 23 lakh was suffered in 2013 followed by a loss of Rs 7 lakh suffered in 2014. 

Related Posts:

  • Questionnaire By RBA questionnare is supplied by RB to all DRM's to submit by todayPlease ensure that our views to be represented. Personal DataDivision: Station: Section:Name of the employee:De… Read More
  • Dharna Infront of GM/SWR on 08.09.09AILRSA SWR conducted Dharna in front of GM/SWR as per central guide lines on 08.09.09.Dharna was welcomed by Com. K Nishad Divisional Secretary Hubli and Presided over by Com. SD Arnold Zonal President, and inaugurated by Com… Read More
  • DA-5%New Delhi, Sep 10 (PTI) The government today announced a five per cent increase in the dearness allowance for the central government employees and pensioners, with effect from July this year, entailing an outgo of about Rs 2,… Read More
  • Dharna in front of GM/SR and GM/SWR on 08.09.09 Read More
  • 60 % Arrears paymentThe government has decided to pay the second installment of the Sixth Pay Commission arrears."As in the case of the first installment of the arrears, government servants would be permitted to deposit their arrears in their GP… Read More

0 comments:

Welcome To AILRSA....

Visitors

1222333

Admin Area

Blog Archive

AILRSA 1970 - . Powered by Blogger.

Are You Satisfied with 7th Pay commission ?

Popular Posts

Recent Posts

Text Widget

Followers

-------------------------------------------------------

-------------------------------------------------------