Parliament panel flags ₹9,222 crore cess transfer failure

The Public Accounts Committee has raised concerns over the Finance Ministry's failure to transfer ₹9,222 crore in cess collections to their designated reserve funds. Committee members questioned the ministry's explanation for the lapse, with panel chief K.C. Venugopal emphasizing that cess proceeds must be used for their intended purposes rather than to finance the fiscal deficit.

Cess is a special levy collected for specific purposes and should be segregated into dedicated reserve funds. The committee's findings suggest that substantial collections have not been properly allocated according to their mandated uses.