House panel pulls up IT ministry for failing to use semiconductor funds

A parliamentary panel has pulled up the Ministry of Electronics and IT for surrendering more than half the funds allocated for semiconductor and display manufacturing projects in 2023-24, according to a report tabled in the Lok Sabha on Wednesday. The Standing Committee on Communications and IT in the fourth report on demand for grants observed gradual decrease in allocation of funds from Budget Estimate (BE) 2021-22 to BE 2024-25 for Digital India Programme as well as underutilisation by the ministry over the years. The report said under Modified Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India, during FY24, of the total allocation of Rs 1,503.36 crore the actual expenses as on March 31, 2024 indicates that the ministry could spend only Rs 681.11 crore, "surrendering a staggering 55 per cent of the allotted fund". "Surrendering of funds beyond 50 per cent allocated reflects improper planning by the ministry. The committee may be apprised of t