Against the backdrop of dispute over figures of presumptive loss in 2G spectrum allocation, the Comptroller and AG has said the draft report which had put Rs 2,645 crore as one of the loss figures could not "conclusively" bring out the potential loss and merely highlighted "possibilities."
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
In an interview with CNN-IBN's National Bureau Chief Bhupendra Choubey, Public Accounts Committee Chairman Murali Manohar Joshi talks about the probe into the 2G spectrum scam and the government's flip flop on Comptroller and Auditor General report. Following is the transcript of the interview
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
But company says govt decision to permit use of incremental coal does not result in any loss to exchequer or undue benefit.
The Delhi Auto Expo has grown into a high-profile event where car makers, Indian and foreign, announce new models and reach out to customers. Business Standard tracks the meticulous planning that goes into the event.
Senior Bharatiya Janata Party leader Murli Manohar Joshi on Saturday charged the Centre with attacking constitutional institutions working in the interest of the people and said it was harmful for the nation.
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
With media reports of audit raking up a coal scam, Prime Minister Manmohan Singh on Thursday said the Comptroller and Auditor General (CAG) has clarified there is no report and maintained there was no need for him to clarify in Parliament.
In another huge embarrassment to the government after the 2G fiasco, the Comptroller and Auditor General (CAG) has estimated a Rs 10.6 lakh crore loss to the exchequer on account of allotment of coal blocks during 2004 to 2009 without auction to 100 private and public sector companies.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
Slamming the Navy for finalising a deal for MiG 29K naval fighter aircraft without their weapons package, a Comptroller and Auditor General report Thursday said the maritime force has now chosen a missile with an "unsatisfactory track record" in the Indian Air Force.
Rural Development Minister Jairam Ramesh has sent a missive to the Comptroller and Auditor General, expressing concern over delayed audit reports adversely affecting the flagship National Rural Drinking Water Programme. In a personal letter to CAG Vinod Rai, he has drawn attention to the ministry not being able to release funds to the states as they are not submitting audits of accounts of grants-in-aid along with the utilisation certificates.
Comptroller and Auditor General Vinod Rai on Wednesday rejected reports that there was pressure from Parliament's Public Accounts Committee chairman Murli Manohar Joshi to expedite audit work of 2G spectrum allocation and said no findings were ever shared with the PAC.
Moving swiftly after the conclusion of the Commonwealth Games, the government constituted a high-level committee headed by former Comptroller and Auditor General VK Shungloo to look into the organising and conduct of the Games.
Holding that the Adarsh Housing scam was a classic case of fence eating the crops and 'consistent failure' of Centre and Maharashtra government, the Comptroller and Auditor General on Tuesday said rules were bent to benefit relatives of politicians, public servants and senior service officers including former Army chiefs Gen Deepak Kapoor and N C Vij.
Bharatiya Janata Party on Monday sharpened its attack against Sports Minister Ajay Maken for allegedly misleading the Lok Sabha on appointment of Suresh Kalmadi as Commonwealth Games organising Committee head, saying the Comptroller and Auditor General report makes it clear that prime minister's office responsible for it.
Defending Delhi Chief Minister Sheila Dikshit over her indictment in the recently published report of Comptroller and Auditor General of India on irregularities observed in Commonwealth Games, senior Congress leader Digvijaya Singh has said the party has decided not to take any action against her.
Prime Minister Manmohan Singh has constituted a ministerial panel, headed by Defence Minister A K Antony, to examine the findings of the Shunglu Committee that probed alleged irregularities in conduct of the Commonwealth Games in New Delhi last year.
In further embarrassment to Congress, the Comptroller and Auditor General is understood to have rapped the Sheila Dikshit government in Delhi for irregularities in certain contracts related to the Commonwealth Games.
Nine Indian Americans among Outstanding 50 Asian Americans in Business this year.
The tax department was given the land at Mumbai's posh location, measuring 2,786 square metre, with a minimum capacity of 100,000 sq ft, in 1992. Instead of constructing an office building, the department recently took a few floors on rent at the nearby Air India building.
Cairn India and UK's BG Group too replied to audit observations.
Reliance Industries was to relinquish 25 per cent of the gas-bearing KG-D6 block in 2004 and a similar area in 2006 but the Directorate General of Hydrocarbons, which was at that time headed by V K Sibal, concluded that hydrocarbon prospectivity "extends over entire block and hence no block area needed to be relinquished."
The Shunglu Committee has faulted the sacked chief of Commonwealth Games organising body Suresh Kalmadi and his aides over award of contracts saying there was "extreme concentration of powers at the top" and "conflict of interest" among the organising committee officials.
The Supreme Court-appointed Committee of Administrators (COA) on Monday sacked some of the previous officials of the Board of Control for Cricket in India, including Team India's media manager Nishant Arora.
All set for more public interactions even as PM has been critical of the apex auditor recently.
Concerned over the frequent leaks of its "half baked reports", the office of the Union comptroller and auditor-general (CAG) has decided to issue different versions of its draft reports -- the ones given for feedback and reactions before the final version is readied -- to ministries and public sector units to nail the sources of leaks.
The apex auditor is busy preparing a report on the Air India-Indian Airlines merger and modernisation of airports through public-private-partnerships, both carried out during the previous term of the United Progressive Alliance government.
Supplementary provisions exceeded the original provision by as much as 239,900 per cent in 2014-15.
The auditor said that in the case of performance audit on hydrocarbon production sharing contracts, 'interactive meetings were held with two operators, including RIL, prior to the finalisation of the draft performance audit report'.
Days after a CAG draft report said his firm got out of turn favours from the oil ministry and its technical arm DGH, Reliance Industries chairman Mukesh Ambani on Friday met Prime Minister Manmohan Singh.
Oil Minister S Jaipal Reddy on Monday rejected senior Bharatiya Janata Party leader Murli Manohar Joshi's attack on Home Minister P Chidambaram on the issue of CAG indictment of his ministry for alleged favours to private firms, saying such attacks would harm decision making at higher levels.
Government auditor CAG also noted in a report that these demands are "unrealisable 100 per cent".
The Comptroller of Auditor General (CAG) on Friday came down heavily on the environment ministry for lapses in implementation of its green schemes whether it was for afforestation, biodiversity, pollution control or creating awareness.
The comptroller and auditor general has unearthed a Rs 450-crore scam involving the purchase of Israeli unmanned aerial vehicles by the Hyderabad-based National Technical Research Organisation, a technical arm of the external intelligence agency Research and Analysis Wing. In the first ever audit of any intelligence agency in India, it was found that these UAVs were lying as junk.
In popular perception, the villain of the piece is former civil aviation minister Praful Patel.
The plan of action ranges from drawdown of loans to seeking additional guarantees, to even recalling some of the loans, if the situation so warrants.
The embassy observations are part of a confidential official cable released by whistleblower website WikiLeaks on August 30.
Terming the move for getting of a "large number" of planes as "risky", the CAG said the aircraft acquisition had "contributed predominantly" to the airline's massive debt liability of Rs 38,423 crore (Rs 384.23 billion) as on March 31 last year.
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