Enterprises (SPSEs) that have not updated their accounts for periods ranging from one to 16 years, according to a report by the Comptroller and Auditor General (CAG). The report, tabled in the state Assembly, highlights concerns over financial transparency and accountability in these enterprises.
The CAG report revealed that between 2022-23, the government invested ₹1,976.37 crore in 19 SPSEs despite their failure to maintain updated financial records. Notably, nine major SPSEs received ₹1,939.60 crore—over 98% of the total funds allocated—despite having pending accounts.
Among these enterprises, Assam Hills Small Industries Development Corporation Ltd had the longest delay, with accounts in arrears for 16 years, last finalized in 2006-07. Assam Tea Corporation Ltd had eight years of pending accounts, while Assam Livestock and Poultry Corporation Ltd and Assam State Development Corporation for Scheduled Castes Ltd had arrears of five years each.
The report also flagged that four SPSEs with arrears of five years or more received ₹692.21 crore in budgetary support, of which ₹614.13 crore was allocated for salary-related expenses. The CAG warned that delays in finalizing accounts create risks of financial mismanagement, fraud, and misuse of public funds.
To address the issue, the CAG recommended setting up a special cell under the Finance Department to expedite the clearance of arrears. It also suggested outsourcing account preparation for enterprises lacking staff expertise and taking punitive action against SPSE management responsible for delays.