Special audit report warns about the budget

SATURDAY, 30 APRIL 2016

A special audit report has revealed that the budget deficit during the last five years has exceeded the government income. This tendency has been noticed during the period from 2011 to 2015.

According the report the annual deficit is as follows:

The total income for the year 2011 had been Rs.974000 million while the budget deficit was Rs. 987000 million. In 2012 the total income of the government was Rs.1094000 million while the deficit was Rs.1098000 million. In 2013 the total income was Rs.1230000 million and the deficit was Rs.1333700 million.

By 2014 the total income of the government was Rs.1229000 million and the budget deficit was Rs.1432000 million. In 2015 the income was Rs.1530000 million and the deficit was 1808000 million.

The audit report has made an important observation. It states that immeasurable economic progress could be achieved only by stopping wastage and fraud and improving the projects qualitatively.

However, from the day the present regime came to power it has been accused in Parliament as well as outside it that there have been frauds committed such as the bond deal of the Central Bank, selling of paddy in Paddy Marketing Board, releasing taxes of motorcars by Customs, renting a building for the Ministry of Agriculture, a building for the Ministry of Rehabilitation and Prison Reforms etc.

Also, certain organizations have taken legal action based on frauds and corruption committed during this period.