Karnataka govt not recovered old loans amounting to over ₹10,000 cr: CAG

Loans pending since 1977: CAG report on Karnataka government's finances.

Published on: Feb 14, 2024, 09:11:34 IST

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The Comptroller & Auditor General (CAG) has found that the Karnataka government has not recovered old loans amounting to over ₹10,000 crore given to various entities, including a number of its own departments or undertakings.

There are some loans pending since 1977, the report said.

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It said there are some loans pending since 1977. The CAG report on Finance Accounts 2022-23 was tabled in the Assembly on Tuesday.

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"In respect of old loans amounting to ₹10,389.78 crore involving eight departments (21 loanee entities), recoveries of principal have not been effected during the past several years, which includes loans pending since the year 1977," the CAG said.

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According to the CAG report, the 21 loanee entities have arrears of ₹15,856 crore, which includes principal of ₹9,380 crore.

The oldest arrears are from 1977, given to Bangalore Water Supply and Sewage Board (BWSSB) and Karnataka State Seeds Corporation Ltd.

ABOUT THE AUTHOR
Yamini C S
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.Read More