A
Transfer of collected cesses directly to the NITI Aayog for infrastructure development.
B
Non-transfer of collected cesses to their designated non-lapsable reserve funds, keeping them in the Consolidated Fund of India to reduce the accounting fiscal deficit.
C
Diversion of cess funds exclusively towards foreign debt servicing under RBI supervision.
D
Exemption of major corporate entities from paying statutory cesses.
Correct answer: (b) Non-transfer of collected cesses to their designated non-lapsable reserve funds, keeping them in the Consolidated Fund of India to reduce the accounting fiscal deficit.
Explanation
The PAC flagged the non-transfer of ₹9,222 crore in collected cesses to their designated non-lapsable reserve funds, criticizing the practice of retaining these proceeds within the Consolidated Fund of India to artificially reduce the fiscal deficit. Options A, C, and D do not reflect the committee's findings.
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