Hyderabad, March 15 : The Comptroller and Auditor General (CAG) of India in its report on Telangana Government’s finances audit report for the year ended March 2020 said that the state did not achieve revenue surplus for the first time in five years. The reports which laid on the table of Telangana Legislative Assembly on Tuesday said that the other key fiscal targets prescribed by the TSFRBM Act relating to Fiscal Deficit and ratio of total outstanding debt to GSDP of the State were achieved during the year. About 97 per cent of the Fiscal deficit was financed through market borrowings. Although the outstanding liabilities were within the targets of the revised TSFRBM Act, these would be way above the targets, if the liabilities of the State Government with regard to its off-budget borrowings are taken into account. The liabilities of the State have been increasing year-on-year, and over 75 per cent of the borrowings during the year 20 19-20 were utilised to repay the debt pertaining to earlier years, affecting the asset creation in the State, the GAC report said. Revenue receipts of the State increased marginally by Rs 1,124 crore (1.11 per cent) while revenue expenditure increased by Rs 11,715 crore (12.07 per cent) during the year 2019-20 over the previous year. Committed expenditure on interest payments increased by Rs l,800 crore (14.30 per cent) over the previous year. At 14.03 per cent, interest payments relative to revenue receipts were higher than the target of 8.39 per cent fixed by the XIV Finance Commission. During 2019-20, the State continued to spend less on Education and Health as a proportion of its aggregate expenditure vis-à-vis the other General Category States. State Government did not bestow required attention to asset creation during the year and capital expenditure dipped in comparison to the preceding year. Huge capital was blocked due to delays in completion of irrigation projects. The State Government has not discharged its commitment of Rs 4,063.65 crore for taking over losses of DISCOMs under the UDAY scheme as of end of March 2020, as agreed in the tripartite agreement with Go’ and the DISCOMs. The current commitments stand postponed to future years besides non-achievement of objective of financial turnaround of DISCOMS as envisaged under UDAY scheme, the report said. MORE VV GK