Political Issue ?: ₹31 Cr Railway Fund diverted to Himachal Govt Treasury

Bilaspur: The Land Acquisition Officer (Railway), Bilaspur, has issued directives for the transfer of ₹31 crore in unspent land acquisition funds into the Himachal Pradesh government treasury.

The decision follows an official communication from the state’s Finance Department instructing the deposit under Receipt Head 1055-00-800-02.

As per the letter addressed to the Manager of H.P. State Cooperative Bank, Bilaspur, the Principal Secretary (Finance) issued a directive (No. Fin(TR)B(15)-11/95-VI-I-259645-4584) dated February 14, 2025, mandating that all unutilized funds related to land acquisition for railway projects be transferred to the government treasury.

The letter specifies that fixed deposit receipts (FDRs) linked to the Land Acquisition Officer’s account (A/C No. 10610115216) be withdrawn, and the amount be credited to the designated government account.

A total sum of ₹31 crore is to be transferred from the Land Acquisition Officer’s account to an HDFC Bank account (A/C No. 50100183494221, IFSC Code HDFC0002955) by February 15, 2025, for further deposit in the treasury.

The move is in line with financial management policies ensuring that unspent government funds are properly accounted for and redirected into the treasury for future utilization as per state planning and budgetary requirements.

Officials from the Finance Department have stated that the transfer aligns with financial regulations, ensuring the proper utilization of funds allocated for infrastructure projects.

The process helps maintain transparency and compliance with government accounting standards.

Experts believe that such transfers are routine financial measures to prevent the idle accumulation of funds in project-related accounts and to ensure proper fund allocation in subsequent budgets.

The Himachal Pradesh government has emphasized that all financial transactions are conducted as per regulatory guidelines, and the deposited funds will be utilized as per prescribed government norms.

The deposit of ₹31 crore into the state treasury marks a step in streamlining financial administration and ensuring effective fund utilization. Further updates on the allocation and future use of these funds will be closely monitored by relevant authorities.

Sunil Chadha