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Posts tagged as “Budget”

How TRS Government did accounting fraud and almost got away with it

Facts first: The Budget 2018-19 of Telangana Government presents a rosy picture of growing revenue surplus. Revenue surplus is obtained by subtracting the revenue expenditure of the state from the revenue receipts (tax and non-tax revenues) of the state. The more the revenue surplus, the healthy the economy of the state. TRS Government shows rising revenue surplus through the years: Rs. 1,385 Crores in 2016-17 (Actuals), Rs. 1,545 Crores in 2017-18 (Revised Estimate) and Rs. 5,520 Crores (Budget Estimate) in 2018-19.

Accounting Fraud: However, as per CAG's (Comptroller and Auditor General) report on Telangana state finances for 2016-17, the revenue surplus of Rs. 1,386 Crores has been overstated by Rs. 6,778 Crores. 

Fraud, False promises and Fiscal imprudence

After years of struggle and sacrifices, Telangana became a reality in 2014. TRS got the public mandate and formed the first government of Telangana. It's almost four years now since Telangana's inception and when one takes a hard look at the finances of the youngest state of the country, a complete disarray of wrong priorities, populist schemes, financial mismanagement and creative accounting is witnessed.