Himachal Begins Drive to Reclaim ₹12,000 Crore Dormant Funds
A Wake-Up Call for Fiscal Discipline
Facing mounting debt and a tightening purse, the Himachal Pradesh government is rolling up its sleeves for a financial spring cleaning. In a bold move to ease fiscal stress, the state has launched a sweeping campaign to recover nearly ₹12,000 crore lying dormant in fixed deposits and inactive bank accounts across various departments.
The Search Begins
The Finance and Planning Department has tasked Sub-Divisional Officers (SDMs) with identifying these forgotten funds. Once located, the money will be redirected to the government treasury, breathing life back into the state’s strained finances.
This initiative comes after officials discovered that many departments had opened multiple accounts over the years—some holding just a few thousand rupees, others stashing away crores. Despite these untouched reserves, departments have continued to request fresh grants, inadvertently putting more pressure on the state’s budget.
No More Free Passes
To curb this trend, the Finance Department has drawn a line in the sand: future budget requests will undergo rigorous scrutiny. If a department is found sitting on unspent funds or FDRs, its new proposals will be trimmed accordingly.
Accountability Takes Center Stage
At a recent high-level meeting led by Chief Secretary Prabodh Saxena, officials were given clear marching orders—conduct regular audits, follow financial rules to the letter, and deposit any interest earned from idle funds back into the treasury.
The government is also reclaiming budgets from long-stalled schemes, some of which haven’t seen progress in decades. “Every rupee must count,” a senior official emphasized. “We’re committed to financial discipline and responsible governance.”
A Ray of Hope
With limited revenue streams and rising liabilities, this recovery effort could offer a much-needed lifeline. Beyond the immediate relief, officials hope it will usher in a new era of transparency and accountability in public spending.
