CAG report shows sorry state of Bihar PSUs

Only 18 out of 79 state public sector undertakings (PSUs), including nine from the power sector, in Bihar have finalised their accounts in the last three years. Seventy-five of them have 1,321 arrear accounts since 1977-78, according to the Comptroller and Auditor General (CAG) of India report for the year ending March 31, 2019. The report was tabled in the Bihar legislative assembly on Thursday.

According to a mandatory provision under Bihar Finance Rules, companies have to finalise their accounts at the end of the fiscal so that they can be audited. If a company has not done so for 20 years, it is said to have 20 arrear (outstanding dues) accounts.