Headlines Now utilized the last review statement registered by the Comptroller and you can Auditor general on authorities, with made certain incredible revelations.
The United Progressive Alliance(UPA) government’s greatest election sop revealed before the 2009 Lok Sabha polls got an enormous impact on the electorate since it watched the new coalition back in power for the second straight label.
But not, the fresh system which was in the first place supposed to work with step 3.5 crore small and limited producers seemingly have given delivery so you can a unique swindle underneath the most recent techniques, that’s currently tainted on account of several cons in you to agency or the almost every other.
Into the , the UPA-step 1 got announced Rs 52,280 crore farm mortgage waiver to possess producers. The latest pre-poll key brought an extra name toward UPA. not, callous ministers in addition to corrupt and unproductive government equipments kept growers entrapped in a cruel financial obligation stage.
Statements Now reached the very last audit statement submitted by Comptroller and you will Auditor-general(CAG) towards regulators, that has made particular incredible revelations.
“CAG carried out a speeds audit to assess perhaps the debt waiver and rescue scheme is observed relative to relevant guidance and you may expectations. This new audit carried out from covered twenty-five claims involving profession audit away from an entire ninety,576 farmers’ account during the 715 twigs out of banks in the ninety-five districts. % accounts was individuals who were qualified however, was disqualified of the credit establishments. Half a dozen % of your featured accounts weren’t offered its rightful masters. 8.62 % had been individuals who just weren’t eligible but still got sometimes complete waiver away from credit card debt relief. Over 34 percent growers were not given financial obligation waiver permits for this reason leading them to ineligible to possess future fund. For the lots and lots of instances there was proof of tampering, overwriting and you will customization regarding information. Even though the scheme is actually meant for growers privately, in some cases brand new funds was basically paid to help you micro banking institutions. Together with, lending organizations fraudulently advertised wide variety connected with attention fees. Money ministry leftover they to the banks to complete thinking-keeping track of. There’s zero supervision by finance ministry while reimbursing states,” a part of the latest statement checks out.
Written down a national level keeping track of panel is actually revealed. However, they did not carry out its responsibility. In reality, there clearly was zero supervision or overseeing during the quantity of money ministry, Set aside Lender away from Asia(RBI) or Federal Financial to own Farming and you can Outlying Innovation(NABARD).
When the CAG wanted this new times and also the schedule of the latest group meetings, if any, which were stored from this large-driven monitoring panel, they received an empty.
According to the authorities information, money taken of the about step 3.5 crore growers were waived out of. Yet not, on account of limitation of resources, the CAG audited a sample size of lower than 1 lakh accounts only. And so the conclusions of your own better independent audit human anatomy could merely function as the tip of one’s iceberg.
Anywhere between 2008 and 2012, India saw two funds ministers- P. Chidambaram under exactly who the latest ranch financing waiver was initially advised and you will later on adopted after which Pranab Mukherjee around exactly who this new system currency stayed paid versus supervision.
The brand new CAG says, for 5 many years the federal government made no energy to carry out an audit or even to see if Rs 52,100000 crore away from taxpayers’ money try spent properly.
Brand new financing ministry’s Institution of Monetary Qualities try this new apex expert accountable for implementing and you will managing your debt waiver plan. However with following finance ministers Chidambaram and you will Mukherjee remaining not aware away from things, the brand new CAG feels which they took it simple.
Thought by the UPA as its two best ministers, both Chidambaram and you will Mukherjee have been discovered responsible for inaction and you can neglect into the seeing as new recovery attained the fresh suggested beneficiaries.
The newest CAG declaration has now place government entities scampering for some deal with rescuing actions. Less than Chidambaram, that since the gone back to restore the fresh Indian discount back on the right track, the money ministry towards January 11 attempt of a page so you can the brand new RBI while the NABARD asking these to need quick action.
Another type of scam for the UPA routine? CAG unearths punishment off farm mortgage waiver design
(a) healing of cash out of ineligible beneficiaries(b) repairing of obligation away from bank authorities and you can bank auditors(c) registration from FIRs for the instances of tampering and forgery(d) action under banking legislation facing erring banks(e) recuperation out-of inadmissible welfare said because of the finance companies(f) issuance away from debt waiver and debt relief licenses to help you farmers.
The new financing ministry possess eventually started taking action for the findings of your own CAG, it looks a lack of, far too late. The brand new CAG has only audited nearly 90,000 account from the overall 3.5 crore farmers’ account.
Issue now increases and this agencies manage now audit the remaining more than step three.49 crore profile and you can perhaps the currency stolen perform actually ever getting retrieved.