Public Accounts Committee flags failure to transfer ₹9,222 crore in cess collections to designated reserve funds
The Public Accounts Committee (PAC) has highlighted that the Finance Ministry failed to transfer ₹9,222 crore collected as cess to the designated reserve funds. PAC members questioned the ministry’s justification, while chief K.C. Venugopal stressed that cess revenues should not be used to cover the fiscal deficit but directed toward their intended purpose. The committee’s findings raise concerns over fiscal management.