J&K suffers Rs 9,262-crore deficit on power purchase:CAG

Jammu and Kashmir government incurred Rs 14,915 crore on power purchase during 2009-10 to 2013-14, and recovered only Rs 5,663 crore during this five-year period, resulting in a deficit of massive Rs 9,262 crore, according to government auditor CAG.
As per the figures of Comptroller and Auditor General (CAG) of India on state finances for the year ended March 31, 2014, Jammu and Kashmir has incurred an expenditure of Rs 14,915 crore on account of power purchase from 2009-10 to 2013-14.
The state was able to recover only Rs 5,653 crore during this period, thereby suffering power deficit to the tune of Rs 9,262 crore, the CAG said.

The state government had set a revenue target of Rs 8,988 crore during the last five years period from 2009-10 to 2013-14, it said.
Giving further details, the report said the state suffered a deficit of Rs 1,295 crore as Rs 702 crore actual revenue was realised out of total power purchase of Rs 1,997 crore for the financial year 2009-10.
Similarly, in 2010-11, J&K suffered Rs 1,488 crore deficit as the state was able to recover only Rs 822 crore against the Rs 2,310 crore power purchase.

The state purchased power to the tune of Rs 3,000 crore in 2011-12 and was able to recover Rs 1,007 crore resulting in Rs 1,993 crore power deficit.

There was a deficit of Rs 2,281 crore and Rs 2,205 crore in 2012-13 and 2013-14 financial years respectively, it said.
The deficit in power sector has gone up Rs 910 crore more from Rs 1295 crore 2009-10 to Rs 2205 crore 2013-14, it said.