Comptroller And Auditor General Cag

G20 presidency: CAG team reviews preparations for SAI20 meet in Goa

A six member team from the Comptroller Auditor General of India (CAG) visited Goa to review preparations for the upcoming Supreme Audit Institutions (SAI20) meet scheduled to held in mid-June as part of India's G20 presidency, an official said on Friday. The meet of the Supreme Audit Institutions or SAI20, a group of audit organizations from G20 countries that promotes good governance, transparency and accountability, will be held in the coastal state between June 12 and 14, the official said. "As part of India's presidency of the G20, Comptroller and Auditor General of India (CAG) Girish Chandra Murmu will chair the SAI20 for the year 2023. This gives India an opportunity to play a leadership role in promoting good governance and accountability in the public sector," he said. "India will hold the second meeting of the two scheduled SAI20 meetings as part of the G20 summit in Goa from June 12 to 14, 2023. The first meeting for senior officials of SAI20 member nations and the World .

CAG red flags slow development of hydro power projects in Jammu and Kashmir

The Comptroller and Auditor General (CAG) said out of 374 identified project sites with power generation capacity of 1,725.53 MegaWatts, only 10 projects with 79.75 MW capacity had been commissioned with time overrun ranging between four months and seven years. The hydro power potential of Jammu and Kashmir has been estimated at 20,000 MW which includes 1,500 MW in respect of small hydro projects. As of October 2021, only 2,813.46 MW (16 per cent) of this potential had been harnessed, which included 79.75 MW of small hydro projects. "The main objective of hydro policy for small hydro project/mini hydro projects for expeditious development of available hydro power of Jammu and Kashmir was not achieved. Out of 374 identified project sites with power generation capacity of 1,725.53 MWs, only 10 projects with capacity of 79.75 MWs (five per cent) had been commissioned with time overrun ranging between four months and over seven years," the CAG said in its report tabled in the parliament

All governments are crony capitalists

The Adani saga has dented the government's image of incorruptibility. But it is doubtful whether the cronyism embedded in India's economic fabric will disappear anytime soon

Artificial Intelligence to be a game changer in govt audit space: CAG

Artificial Intelligence (AI) is going to be a game changer in the public audit space as it will help in quicker and more detailed analysis during both planning and execution stages, Comptroller and Auditor General of India (CAG) G C Murmu said on Tuesday. The potential benefits of applying AI techniques to the audit processes are substantial/ and have already been identified through several use cases, he said in his closing remarks at the SCO SAI Leaders meeting here. High-level delegations from eight Shanghai Cooperation Organisation (SCO) member countries participated in the 6th meeting of Supreme Audit Institutions (SAI) to deliberate on issues related to cyber security and artificial intelligence, and the role of auditors of the SCO nations. "Our intent is to use AI not as a one-time solution for a specific audit, but to build an evolving AI model that will allow for quicker and more detailed analysis during both the planning and execution stages through risk assessment straddli

CAG to audit municipalities in context of 74th constitutional amendment

The CAG audit looks into utilisation of grants that are released from the Centre to ULBs on recommendations of the finance commission

CAG as institution has exemplified spinal strength: Vice President Dhankar

Vice-President of India Jagdeep Dhankar on Wednesday said the country's apex audit body CAG (Comptroller and Auditor General) as an institution has, over the years, exemplified spinal strength. Delivering the inaugural speech at the week-long Audit Diwas celebrations, he said the credibility earned by the institution is due to the the painstaking efforts of the successive CAG chiefs that brought this institution where it is today. "It is indeed satisfying to note that CAG as institution has, over the years, exemplified spinal strength. This elevated status is consequence of seminal leadership the institution has been benefiting from," he said. Impactful and wholesome CAG functioning has generated evolution of transparent and accountable ecosystem, he said and added that such a scenario has "affirmatively contributed to our growth trajectory". The Vice President noted that by virtue of constitutional prescription under Article 151 of the Constitution, the Comptroller and Auditor ...

PIL in Calcutta HC seeks CBI probe into irregularities in MGNREGA scheme

In the petition, LoP Suvendu Adhikari, also sought an audit by the Comptroller and Auditor General (CAG) of India in the matter.

Review spectrum pricing mechanism for captive users: CAG to DoT

The Comptroller and Auditor General (CAG) asked the Department of Telecom (DoT) to review the spectrum pricing mechanism for captive users

CAG to release report on natural resource accounting in November 2022

The Comptroller and Auditor General of India on Friday stated it will be coming up with the report on Natural Resource Accounting (NRA) by November, 2022

Railways failed to improve mobility outcomes, mismatch in figures: CAG

The CAG report additionally found avoidable expenses to the tune of Rs 968 crore towards procurement of power from Bhartiya Rail Bijlee Company Limited (BRBCL).

CAG report on Noida shows why accountability is a myth in India's cities

The first-ever CAG report on Noida highlights the fact that most of India's megacities rarely have their accounts audited

Only 19 states have legislation for management of ground water: CAG

Only 19 states/UTs have enacted legislation for the management of ground water and among them, the legislation was only partially implemented in four states, a CAG report said

CAG pulls up govt for erroneous process of IGST devolution to states

The Integrated Goods and Services Tax (IGST) is shared between the Centre and states in the 50:50 ratio

No more CAG vs govt; data will dictate history, says PM Narendra Modi

Modi said the NPAs of the banking sector had continued to rise because of wrong practices and lack of transparency followed by the earlier regime

Point of vulnerability

Rafale controversy reflects a systemic weakness in defence deals

Flying with impunity

Rafale revelations demand robust govt response

Not recap alone

Budget could be a good starting point for deeper banking reforms

With IBC, non-repayment of loan no more an option: CAG Murmu

The insolvency law has led to a significant behavioural shift among borrowers as non-repayment of loan is no more an option and ownership of a firm is no more a divine right, Comptroller & Auditor General of India G C Murmu said on Thursday. According to him, this behavioural shift has resulted in substantial recoveries for creditors outside the Insolvency and Bankruptcy Code (IBC) and improved the performance of firms. Delivering 'IBC: Adaptability is the key to Sustaining Reforms in the Times of a Pandemic' lecture on the occasion of the fourth annual day of the Insolvency & Bankruptcy Board of India (IBBI), Murmu said one of the most remarkable achievements of the Code was that it has led to a significant behavioural change among the debtors and creditors alike. "It is further motivating them to make the best efforts to avoid default. Further, it encourages the debtor to settle default with the creditors at the earliest, preferably outside the Code. With the Code in place, .

Fiscal transparency

Concerns raised by the CAG must be addressed

Temporary retention, not diversion: FinMin sources on CAG audit of GST cess

Time taken in reconciliation of compensation receipts can't be termed as diversion of GST cess fund when the dues to states were fully released by the central government, they said