Srinagar, Apr 3: The Comptroller and Auditor General (CAG) has flagged financial irregularities exceeding Rs 100 crore in Jammu and Kashmir, pointing to gaps in fund management and expenditure practices, according to recently tabled audit reports.
The findings underscore concerns over efficient utilization of public funds and fiscal discipline in the Union Territory.
According to the audit, an amount of Rs 104.51 crore was classified as doubtful recovery, while Rs 6.88 crore was incurred as avoidable interest due to delays and mismanagement.
Additionally, Rs 2.65 crore was reported as idle or unutilized funds, indicating lapses in financial planning and execution.
The report highlights that funds were parked without timely utilization, leading to inefficiencies in development spending.
“Avoidable financial burden and unutilized funds reflect deficiencies in planning and monitoring,” the audit observed.
Experts say such irregularities not only result in direct financial loss but also delay developmental outcomes.
The findings are expected to prompt scrutiny of financial processes and accountability mechanisms within departments. [KNT]
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