CPM condemns revenue loss of Rs 300 Cr revealed by CAG

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    The State Unit of CPI (M) strongly deplored the State Government for its complete ineptness for affecting a huge revenue loss to the state exchequer as revealed by the Comptroller and Auditor General (CAG) report.

    Deputy Mayor of Shimla Municipal Corporation Mr. Tekinder Singh Panwer said that it is shocking to note that the Government has lost over Rs 300 crores of revenue which was due and which would have helped the state to invest in the developmental activities.

    Instead the Government is bent on borrowing money from different agencies on huge interest rates and then invested in activities which affect the residents of the State on minimal proportion.

    The reports reveal that there has been phenomenal loss in Forest corporation, Power corporation, (alone JP group owes Rs 209 crores), excise and taxation, transport, revenue etc. have more than 750 case that also include cement companies and liquor vends.

    The CPIM is also exploring the possibility of taking the matter to the Enforcement Directorate (ED) as a few agencies have definitely gained phenomenal wealth which would be evident from their assets and they seem to be more than or disproportionate to their income. Further the party has stated that this loss is not notional but actual and demands stern action which draws lesson for times to come.

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