civil_over.pdfVIP

Overview OVERVIEW This Report includes two Chapters containing observations of Finance and Appropriation Accounts of the Government of West Bengal for the year 2002-2003 and three other chapters comprising seven reviews and 41 paragraphs dealing with the result of audit of selected programmes and schemes and of the financial transactions of Government including its commercial and trading activities. A synopsis of the findings contained in the audit reviews and the more important paragraphs are presented in this overview. 1 An overview of the Finances of the State Government The Government showed a lower revenue deficit compared to the previous year. This was achieved by a substantial reduction in plan expenditure. Overall revenue receipts of the State increased from Rs 9387 crore in 1998-1999 to Rs 14525 crore in 2002-2003. Compared to 1998-1999, the contribution of the State’s own taxes in its total revenue receipts declined from 51per cent to 49 per cent. Contribution of grants-in-aid decreased from 16 per cent in 1998-1999 to 15 per cent in 2002-2003. The Eleventh Finance Commission recommended, as a medium term objective to keep interest payment ratio i.e. interest payments as percentage of revenue receipts at 18 per cent . It was observed, however, that this ratio reached an all time high at 54 per cent during 2002-2003. Overall revenue expenditure of the State increased from Rs 14243 crore in 1998-1999 to Rs 23161 crore in 2002-2003 at an average