In an alarming revelation, the Jharkhand government is grappling with the mysterious disappearance of ₹3078 crores from its treasury. A further ₹411 crores allocated for rural development cannot be accounted for. This financial debacle has triggered a thorough investigation, spotlighting issues of governance and financial management within the state apparatus.
The Missing Billions
- Unaccounted Advances: The vanished funds were advanced for governmental operations, leaving officials in a quandary about who withdrew them and their current status.
- Rural Development Discrepancy: An astonishing ₹411 crores meant for rural development has similarly vanished without a trace.
The Investigation Unfolds
- Financial Inquiry: The Finance Department has initiated a probe demanding explanations for these unauthorized withdrawals.
- Accountability Measures: The process involves scrutinizing the Abstract Contingent (AC) bills and ensuring the submission of Utilization Certificates, aimed at safeguarding against financial mismanagement.
The Root of the Problem
- A Historical Issue: For over 23 years, officials have bypassed regulations, withdrawing advance amounts without settling accounts.
- A Growing Concern: Initially reported by the Accountant General as a ₹5033 crores deficit, efforts have been made to adjust ₹1424 crores, with an ongoing process to reconcile an additional ₹531 crores.
Government’s Response
- Committee for Resolution: The Finance Department has instructed the formation of committees at senior official levels to address and monitor the reconciliation of the Detailed Contingent (DC) bills.
- Future Measures: The government is poised to recover the unaccounted funds, with potential action against officials failing to justify the expenditures.
Understanding AC and DC Bills
- Abstract Contingent (AC) Bill: Enables advance withdrawal for essential purposes under specific conditions.
- Detailed Contingent (DC) Bill: Submits evidence and details of the expenditures incurred from the advanced amount.
What Lies Ahead?
- Pressuring for Accountability: The government will demand a detailed account of expenditures from the concerned departments and officials.
- Legislative Scrutiny: Unrecoverable amounts may be regularized through the Public Accounts Committee, ensuring financial accountability.
Conclusion
The case of the missing billions in Jharkhand is more than a mere financial scandal; it is a testament to the dire need for transparency and accountability in government transactions. As investigations proceed, the outcome will not only impact the financial health of Jharkhand but also set a precedent for governance across states.
MCQs on the Topic
- What is the total amount unaccounted for from Jharkhand’s treasury?
- A) ₹411 crores
- B) ₹3078 crores
- C) ₹5033 crores
- D) ₹1424 crores
- Answer: B) ₹3078 crores
- For how many years have officials been withdrawing advances without accounting for them?
- A) 10 years
- B) 23 years
- C) 15 years
- D) 30 years
- Answer: B) 23 years
- What financial document is required to justify the expenditure of the advanced amount?
- A) Utilization Certificate
- B) Abstract Contingent Bill
- C) Detailed Contingent Bill
- D) Expenditure Statement
- Answer: C) Detailed Contingent Bill
- What future action did the Finance Minister of Jharkhand suggest regarding the unaccounted funds?
- A) Ignoring the issue
- B) Recovery of the funds
- C) Increasing the budget
- D) Dismissing concerned officials
- Answer: B) Recovery of the funds
