"The expenditure on salaries, wages, pension and other post retirement benefits, interest payments and power deficit is 221 percent of state's own revenue (Rs 9,143 crore) in 2013-14," explained a CAG report on the state's finances for the year ended 31 March, 2014.

It cited that it is nearly 63.77 percent of the total expenditure of Rs 31,686 crore and 80.12 percent of the total non-plan revenue expenditure of Rs 25,219 crore.

The salaries amounting to Rs 10,843 crore, pensions amounts to Rs 3,592 crore, interest payment accounted for Rs 3,001 crore, besides power deficit of Rs 2,205 crore during the period, it added. The CAG further mentioned "this creates a persistent scenario of negative balance of the current revenue for financing annual plan of the state".

 

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Expenditure on employees, power deficit is 221 percent of revenue in J&K: CAG reports

 

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Jammu: Painting a grim picture of Jammu and Kashmir's financial position, the Comptroller and Auditor General of India (CAG) has said expenditure on salaries, interest payments and power deficit accounted for 221 percent of state's revenue in 2013-14.

 

"The expenditure on salaries, wages, pension and other post retirement benefits, interest payments and power deficit is 221 percent of state's own revenue (Rs 9,143 crore) in

2013-14," explained a CAG report on the state's finances for the year ended 31 March, 2014.

 

It cited that it is nearly 63.77 percent of the total expenditure of Rs 31,686 crore and 80.12 percent of the total non-plan revenue expenditure of Rs 25,219 crore.

 

The salaries amounting to Rs 10,843 crore, pensions amounts to Rs 3,592 crore, interest payment accounted for Rs 3,001 crore, besides power deficit of Rs 2,205 crore during the period, it added. The CAG further mentioned "this creates a persistent scenario of negative balance of the current revenue for financing annual plan of the state".