Srinagar, April 7, KNT: Jammu and Kashmir continues to face a revenue deficit, with government expenditure exceeding its revenue generation, according to findings highlighted in the Comptroller and Auditor General (CAG) report on Union Territory finances.
The audit pointed to a persistent gap between receipts and spending, indicating structural stress in the financial position of the Union Territory.
A revenue deficit reflects a situation where the government’s regular income is insufficient to meet its day-to-day expenditure, raising concerns about fiscal sustainability.
The findings suggest that despite financial allocations and revenue streams, the Union Territory has not been able to bridge the gap, resulting in continued dependence on external support.
The CAG observations underline the need for improved fiscal management, enhanced revenue mobilization, and efficient expenditure planning.
The report comes amid broader discussions on strengthening financial discipline and ensuring sustainable economic management in Jammu and Kashmir. [KNT]
