Comments
India is sitting on unused foreign aid of over Rs 1 lakh crore reflecting inadequate planning by ministries like urban development, water resources and energy, a report by government auditor CAG has said.
“As on March 31, 2010, unutilised committed external assistance was of the order of Rs 1,05,339 crore,” the Comptroller and Auditor (CAG) said in its report tabled in Parliament today. The Government has paid commitment charges of Rs 86.11 crore during 2009-10 in the form of penalty for not utilising the aid approved by multilateral and bilateral lending agencies in a timely manner.
“Inadequate planning resulted in avoidable expenditure in the form of commitment changes amounting to over Rs 86 crore,” said the CAG report. The report has outlined 16 sectors which sit on unutilised external assistance to the tune of Rs 1.05 lakh crore.
The sectors include urban development (Rs 23,883 crore), roads (Rs 11,617 crore), agriculture and rural development (Rs 9,557 crore), water supply and sanitation (Rs 8,995 crore) and power (Rs 7,959 crore).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.