{"id":8142,"date":"2024-06-14T03:29:04","date_gmt":"2024-06-14T03:29:04","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=8142"},"modified":"2024-06-14T03:29:04","modified_gmt":"2024-06-14T03:29:04","slug":"bihar-heading-for-financial-crisis-says-cag-official","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/bihar-heading-for-financial-crisis-says-cag-official\/","title":{"rendered":"Bihar heading for financial crisis, says CAG official"},"content":{"rendered":"

Bihar is heading towards a financial crisis as the state has shown trends of in the fiscal year 2019-2020, even though there was no pandemic, against the revenue surplus in fiscal 2018-19, said additional deputy (eastern region)Comptroller and Auditor General of India<\/a> (CAG<\/a>) Rakesh Mohan.<\/p>\n

Revenue deficit is when the government has less income to meet its expenditure, whereas revenue surplus is when its net income is higher than projected expenditure.<\/p>\n

The revenue deficit in 2019-20 is expected to be around 2000 crore as against the revenue surplus in 2018-19 of 6897 crore.<\/p>\n

In 2018-19, the total budget was 2,09,490 lakh crore whereas the actual spending was 1.60 lakh crore. The saving was 49,000, which is 23% of the total budget. In 2019-20, there are projections that the State Government<\/a> could have saved more than 30%. Many departments have not been able to spend even 40% of their allotted funds. This is wrong because the budgets in the last few years are being prepared unrealistically without taking into account how much funds are available.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bihar is heading towards a financial crisis as the state has shown trends of in the fiscal year 2019-2020, even though there was no pandemic, against the revenue surplus in fiscal 2018-19, said additional deputy (eastern region)Comptroller and Auditor General of India (CAG) Rakesh Mohan. Revenue deficit is when the government has less income to … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1087],"tags":[759],"class_list":["post-8142","post","type-post","status-publish","format-standard","hentry","category-bihar","tag-11-12-07-21"],"yoast_head":"\nBihar heading for financial crisis, says CAG official - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/14\/bihar-heading-for-financial-crisis-says-cag-official\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bihar heading for financial crisis, says CAG official\" \/>\n<meta property=\"og:description\" content=\"Bihar is heading towards a financial crisis as the state has shown trends of in the fiscal year 2019-2020, even though there was no pandemic, against the revenue surplus in fiscal 2018-19, said additional deputy (eastern region)Comptroller and Auditor General of India (CAG) Rakesh Mohan. 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