Business News | PAC Hears Views of Finance, Health Ministry Officials on Audit Observation over Short Transfer of Cess Collections to Designated Funds
Get latest articles and stories on Business at LatestLY. The Public Accounts Committee (PAC) of Parliament on Tuesday heard views of the Finance Ministry and Health Ministry officials on ‘short transfer of levies and cess collections to designated funds’ based on a para of a CAG report released earlier this year.
New Delhi [India], September 9 (ANI): The Public Accounts Committee (PAC) of Parliament on Tuesday heard views of the Finance Ministry and Health Ministry officials on ‘short transfer of levies and cess collections to designated funds’ based on a para of a CAG report released earlier this year.
Congress MP KC Venugopal, who chairs PAC, told ANI later that the cess and levies have to be collected for a specific project to spent on that project.
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He said it should be deposited in the reserve fund. “But here they deposited it in the consolidated fund. So, PAC has done an examination on that,” he said.
The examination was based on Para 3.3.1 of CAG Report No. 6 of 2026 on “Short transfer of levies and cess collections to designated funds”.
The Consolidated Fund is the government's main account into which most government revenues are deposited, while designated or reserve funds are meant for specific purposes.
The selection of additional subjects for examination by the Committee during the year 2026-27 was also on the agenda of the PAC meeting.
Venugoal said major issues will be taken up and will be circulated.
The meeting’s agenda also included consideration and adoption of the draft report on the “Construction of Indo China Border Roads by Border Roads Organisation” based on C&AG Report No. 5 of 2017.
Venugopal said the report will be placed in Parliament. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)