The Modi government is constantly alleging that it has spent more money to do its propaganda than the money spent on the country’s budget.
It is also being alleged that government is spending thousands of crores rupees in advertising its schemes even if they have not been successful. It is to note that 2019-20 budget has been called as Lok Sabha elections budget. There has been a big revelation related to that.
According to CAG report, Modi government has not shown expenditure more than Rs 4 lakh crore. In the year 2018, CAG made a big revelation on the financial management of the Modi government but it was not given media coverage as the media is busy in the ‘Mandir-Masjid’ debate.
According to the CAG report, Modi government has tried to hide more than Rs 4 lakh crore value of debt and lending. The mention of this money is not in the budget documents.
The CAG has said that the mention of such expenses and borrowings should be done in the budget by the law. Because of this, the government has to bear more expenditure on subsidy as a higher interest. This strategy is financially risky. When the public utility fails to repay the loan the debt comes only on the government’s head in the end.
The CAG said that through the disclosure statement of the amount of off-budget financing should be disclosed. It needs a massive review. It can have a bad effect on the economy. Because this expenditure has not been shown in the budget under off-budget financing, hence no arrangement has been made in the budget to handle it. So now it will do double harm to the economy.