Ranchi: Jharkhand finance minister Radhakrishna Kishore has directed all departments to deposit Rs 18,901.74 crore lying in Personal Ledger (PL) accounts into the state treasury, terming prolonged parking of public funds in PL accounts as a violation of financial norms.
Details of Funds in PL Accounts
In a letter to the finance secretary on Saturday, Kishore stated that as of May 31, 2026, various departments collectively held Rs 18,901.74 crore in PL accounts. The major shares include:
- Rs 3,943 crore with the energy department
- Rs 2,876 crore with urban development
- Rs 1,957 crore with higher and technical education
- Rs 1,922 crore with agriculture, animal husbandry and cooperative department
- Rs 1,776 crore with the building construction department
Around 20 other departments also hold significant amounts, the letter added.
Instructions for Revalidation and Transfer
The minister instructed that only funds parked during the current financial year and the preceding three years be revalidated under special circumstances. “All amounts lying in PL accounts for more than four years must be mandatorily transferred back to the treasury,” he ordered.
He warned that failure to surrender such funds would result in them being deemed automatically surrendered by the finance department after due consideration. “Parking government funds in PL accounts violates established norms and reflects financial indiscipline,” Kishore noted.
Impact on Welfare Schemes and Borrowing Capacity
In a separate communication, the minister flagged that the state is simultaneously trying to mobilise resources for welfare schemes such as the Maiya Samman Yojana, making it “unfortunate” that such a large sum remains idle outside the treasury system.
He also pointed out that under the FRBM framework, borrowing limits are linked to cash management, and large balances in PL accounts can adversely affect the state’s borrowing capacity.
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About the Author: ASRP Mukesh holds over 15 years of journalistic experience. He covers government, politics, and human interest stories from Jharkhand.
