Monday, March 02, 2009

Where your money goes

If you said, down the drain, thats right.

The CAG points out (via) that funding on Government Flagship programmes is overstated. What does that mean? A lot of things. But your money is being wasted. Where does it go to? Your guess is as good as mine...

The government was apparently clueless as to how these funds were actually used, as the accounts of these agencies were not subjected to any official checks. It was not surprising, therefore, as pointed out by the CAG, that these funds either remained unspent or were diverted to other, usually unspecified, purposes, thereby depriving the intended beneficiaries, mostly the poor. [BS]

Screw you, mango man...Not that this is a new trick.

It used to be an old trick in both central and state governments for various departments to look for ways of making sure that money, which had been allocated for the year but remained unspent, would not lapse. One convenient method was to move the cash into the bank accounts of associated bodies; while some financial tightening has been done to prevent such parking of funds, it may well be that the old games continue to be played, and NGOs could therefore be a useful ally. It is well known that in the thicket of NGOs that have sprung up to take advantage of government funding, many do not observe proper accounting norms or auditing discipline. And without these, the government cannot, of course, certify to the correct and timely end-use of the allocated money. [BS]

Off the money goes, to the right places.

Otherwise, no one will know when and how the money has been spent. [BS]

Isnt that the whole idea?

Anyway, let that not prevent you from doing your duty...

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