A local fund audit (LFA) report tabled by the finance department in the Uttar Pradesh Legislative Assembly on August 8, 2023, has flagged financial irregularities of Rs 2,313 crore in the three industrial development authorities in Gautam Buddha Nagar between 2012 and 2016. The audit was conducted in pursuance to an announcement by Prime Minister Narendra Modi, who during his election campaigning for assembly polls in 2017, had assured residents of an audit to establish transparency and accountability in the functioning of government bodies.
The audit, conducted between 2018 and 2019, raised objections on over 80 counts related to incomplete land acquisition, escalation costs of infrastructure projects and irregularities in the construction and renovation of government schools. The report mentioned a total of 11 irregularities against the Yamuna Expressway Industrial Development Authority (YEIDA), 49 points against New Okhla Industrial Development Authority (Noida), and 21 points against the Greater Noida Industrial Development Authority (GNIDA). This resulted in a loss of Rs 1,990 crore to the GNIDA, Rs 863 crore to Noida and Rs 261 crore to the YEIDA.
The losses were caused by various irregularities such as executing projects without approval, selling public assets at lower rates, not collecting government revenue from defaulters, making payment to contractors without getting the work done, buying exotic variety of plants without such requirement, selling group housing space for free to realtors and offering financial aid to police without seeking approval from the state. According to the audit, losses are registered by different departments, including land, water works, group housing, health, horticulture and sewer, among others. Prompt action is being demanded against the officials responsible for the irregularities.
As per procedure, the authorities will present justifications along with proof as to why and in what conditions these decisions were taken. The state government will require answers against each point mentioned in the audit report in order to resolve the issues raised by the audit.
Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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