SDPI Demands Accountability Over Unreconciled Government Funds with Reserve Bank of India

The Social Democratic Party of India has expressed serious concern over the findings of the Comptroller and Auditor General of India, which reveal that 3,880.67 crore Rupees remain pending reconciliation between the Union Government’s accounts and the records of the Reserve Bank of India for the financial year 2024-25. Dahlan Baqavi, National Vice President of SDPI, stated that the discrepancy, arising from the netting of debit and credit balances instead of transparent reporting, reflects a troubling lapse in financial discipline and accountability. He noted that such practices understate the actual extent of unreconciled funds and weaken the integrity of financial statements placed before Parliament.

Baqavi pointed out that although the government may argue that this does not indicate a direct loss of public money, the inability to reconcile such a significant amount raises serious concerns about the reliability of fiscal reporting. He emphasized that recurring issues such as delayed voucher processing, non accounting of receipts, and incomplete updates from the RBI’s Central Accounts Section highlight systemic weaknesses in financial governance. When seen alongside other discrepancies flagged in the audit, including misclassification of large sums and pending utilisation certificates, the issue points to a broader pattern of administrative inefficiency and lack of robust internal controls.

The SDPI demands that the Union Government provide a clear explanation and undertake a time bound reconciliation of all pending balances without resorting to accounting adjustments that obscure the true financial position. Baqavi further urged Parliament to take cognizance of these findings and ensure stronger oversight of government accounts. He stressed that restoring public confidence in the country’s financial management requires transparency, accuracy, and accountability, and warned that continued neglect of such discrepancies undermines democratic financial governance.