New Delhi, Aug 7 (IANS) A CAG report tabled in the Delhi Assembly on Friday made critical observations about what it called the potential loss of Rs 5.5 crore in interest due to delay in investment of surplus DTC EPF Trust funds under the erstwhile AAP government led by Arvind Kejriwal.
One of the audit paras pointed to losses caused to the government over delay in investment of funds of DTC’s EPF Trust between 2020-21 and 2022-23.
The potential loss mentioned in para 2.8 added up to nearly Rs 5.5 crore in interest due to failure to invest funds for one month.
The CAG report said, “The DTC EPF Trust failed to timely invest the surplus funds of the employees’ provident fund contributions during the period April 2020 to March 2023, which resulted in a potential loss of interest of Rs 5.50 crore.”
“Audit is of considered view that the Trust should designate officials and assign them the responsibility for timely investment of surplus funds, as required by the referred notification, and to protect the interests of the employees/stakeholders,” it said.
In another section, the CAG report’s Para 2.7 pointed to the avoidable payment of Rs 5.63 crore on deviated quantities relating to dewatering.
“During execution of the work, the estimated quantities of three items for dewatering works had to increase from ranging 108 per cent to 2545 per cent. Huge variation in quantities was due to mistakes in the quantities taken in the agreement, which directly related to the depth of the subsoil water and multiplying factor,” the CAG report said.
“Not exercising financial prudence and due diligence in working out the estimated quantities resulted in enhancement of deviation for more than permissible as per agreement and led to making of avoidable payment of Rs 5.63 crore,” the CAG report said.
On the first day of the Monsoon Session of the Assembly, the tabling of two CAG reports was listed in the Business Advisory Committee report. These are: Report No. 01 of 2026 of Comptroller and Auditor General of India for the year ended March 31, 2023, and Report of the Comptroller and Auditor and Report of the Comptroller and Auditor Report No. 02 of 2026 General of India on State Finances for the year 2024-2025.
–IANS
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