19.4% Raise in revenue receipt

The revenue receipts of the Tamil Nadu government in 2005-06 registered an increase of 19.4 per cent over last year, Shankar Narayan, Principal Accountant General (civil audit), Tamil Nadu and Puducherry, said.Briefing reporters on the report of the Comptroller and Auditor General of India, he said that revenue receipts were Rs 33,960 crore and revenue expenditure was Rs 32,009 crore, an increase of 9.8 per cent over last year.

"Consequently, the state government had a revenue surplus of Rs 1,951 crore, which enabled reduction in fiscal deficit and achievement of an overall primary surplus," he said."However, return on investment of the government funds in companies and cooperative units was only 0.8 per cent, while the government continued to borrow funds from the market at a higher rate of interest," Shankar Narayan said.He said the fiscal liabilities was Rs 62,310 crore and were about 1.83 times the revenue receipts. The expenditure of Rs 41,737.63 crore was incurred against the total grants and appropriations of Rs 46,817.75 crore, resulting in a saving of Rs 5,080.12 crore.
Substantial surrender of Rs 4,649.41 crore, representing 82 per cent of total provision of Rs 5,677.43 crore in respect of 189 schemes was made on account of either non-implementation or slow implementation of schemes. "Of these, the entire provision of Rs 1,281.21 crore made for 79 schemes was surrendered," he said.

Shankar Narayan said the latest finalised accounts showed that 29 working PSUs earned an aggregate profit of Rs 139.91 crore. Of the 69 PSUs, 23 incurred an aggregate loss of Rs 1,627 crore. Of the loss incurring government companies, 19 accumulated losses aggregating Rs 2,958 crore, exceeding their aggregate paid-up capital of Rs 969.14 crore."Even after completion of 21 to 29 years of existence, the turnover of four working government companies has been less than Rs 5 crore in each of the preceding six years," he said adding that two companies had been incurring losses for five consecutive years, leading to negative net worth.The accounts of 18 PSUs were in arrears from one to four years as on September 30, 2006 while the accounts of 12 companies were in arrears for periods ranging from one to 14 years.As per the latest finalised accounts, 29 working PSUs earned an aggregate profit of Rs 139.91 crore, he added.