Nearly 800 employees started the strike on February 3 alleging gross mismanagement of funds by the top management and demanded a thorough audit of ICAI by comptroller and auditor general.
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.
With the heat over the 2G telecom spectrum scam rising, the Telecom Regulatory Authority of India on Thursday recommended the cancellation of 34 telecom licences of companies, including Etisalat, Uninor, Loop Telecom and Siestema, due to non-compliance of roll-out obligations.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
But company says govt decision to permit use of incremental coal does not result in any loss to exchequer or undue benefit.
The documents include the Cabinet note on the policy prepared by DoT and papers related to the decision to clear the policy by the then Congress Cabinet.
National auditor says a significant part of NPAs was due to fraud and may never be recovered
Equity investments in 82 public sector enterprises have been completely eroded due to accumulated losses, an audit of financial statements conducted by the Comptroller and Auditor General of India revealed.
Bureaucrats's memoirs are usually insipid versions of events and steer clear of controversy. Former Union home secretary C G Somiah, who retired as India's Comptroller and Auditor General, has chosen to take a refreshingly frank route in his autobiography The Honest Always Stand Alone (Niyogi Books).
He may be cooling his heels in Delhi's Tihar Jail for his alleged involvement in the 2G scam, but the developmental work and the projects he executed in this reserved constituency are the main plank of the ruling Dravida Munnetra Kazhagam, which is facing a tough competition from arch-rival All India Anna Dravida Munnetra Kazhagam.
The Defence Minister should make a statement and clarify what is the reason and why it is being purchased after its price has been escalated 20 times," CPM leader Basudeb Acharia said in Lok Sabha. He was promptly supported by former Defence Minister and Samajwadi Party chief Mulayam Singh Yadav.
The accrual-based financial statements are expected to provide more appropriate presentation of financial performance and position of the government, said the government statement. The Union and states would have a common format of financial statements that would include a balance sheet, a statement of financial performance and a cash flow statement.
The government on Tuesday tabled in Parliament the Comptroller and Auditor General of India (CAG) report on 2G spectrum allocation, whose reported extracts have created a political storm and led to the resignation of Telecom Minister A Raja.
Many will hope this is the beginning of a new phase in Dr Singh's tenure, when he lets his office, the government, his council of ministers, his party and coalition and the country know that he means business, that the buck stops with him, that his colleagues and officers must shape up or ship out, says Sanjaya Baru
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
Although there is a lot of talk on social justice, Dalits in Tamil Nadu face atrocities of some kind every other day, Governor R N Ravi has said, apparently targeting the ruling Dravida Munnetra Kazhagam after a gap of about a month.
In its report for the year ended March 31, 2008, the CAG has expressed serious concern over deficiencies like 'non-provision of the envisaged job guarantee to rural poor, fake payment of wages and delay in payment of wages to labourers'.
Seeking the government's assurance to the House that it would not henceforth enter into "such dubious deals" with the United States, Basudeb Acharia of the Communist Party of India-Marxist asked why the government bought the 1971 vintage vessel for $50 million when the US Navy had decided in 2003 that it was not suitable for modernisation and should be decommissioned in 2006.
The Comptroller of Auditor General (CAG) of India has rapped Maharashtra Government for giving 'undue benefit of over Rs 20 crore (Rs 200 million)' to controversial Satyam Computer Services Ltd by selling land at lower rates in Multimodal International Hub Airport (MIHAN) project at Nagpur.
Altogether 41,663 farmers in 383 villages in Washim, Yavatmal, Amravati and Buldhana districts of Vidarbha region were covered in the sample survey. Those reporting land holding in range of two to six hectares were 40 per cent and around six per cent reported land holding of more than six hectares, CAG said. Only eight per cent farmers confirmed visit of any government official in 2006, the report said.
The Board of Control for Cricket in India no longer enjoys the tax exemptions it got in the guise of being a charitable organisation but the government does not plan to bring it under the ambit of audit by Comptroller and Auditor General.
The Comptroller and Auditor General of India, the apex audit body, has decided to audit the accounts of five telcos-- Bharti Airtel, Reliance, Tata, Vodafone and the state-run BSNL-- for 2009-10.
Gujarat Chief Minister Narendra Modi on Sunday night alleged that a report by the Comptroller and Auditor General of India had found that Rs 50,000 crore was unaccounted for and 'missing from the central government's coffers'."The country wants to know from Prime Minster Manmohan Singh about this money that has simply vanished," Modi said. Training guns on Dr Singh, Modi said the country should know whether the huge sum of "missing money was being used for the elections."
The report for the period ended March 2009, presented in the assembly by Deputy Chief Minister S K Modi, who holds charge of the finance department, said revenue receipts between 2008-09 increased by Rs 4770.97 crore (Rs 47.7 billion) mainly due to grants-in-aid and share of Union taxes from the Centre.
This follows a letter by RIL to the ministry, justifying the increase in capex.
India was among the top-five economies with the largest general government capital stock level, said, in 2015, an International Monetary Fund report called "Making Public Investment More Efficient". The report fuelled a debate on countries sitting on piles of cash that could be used better. India was believed to have public assets worth $4.5 trillion. The report urged countries to start asset recycling. Six years after the report, Australia's success in asset recycling has turned India into a believer; despite doing averagely in its previous efforts on roads, railways or meeting its divestment targets.
The Comptroller and Auditor General report for 2008, released in New Delhi, also questioned the prudence of the Ministry in buying the second-hand Russian warship, which now comes at 'half its life-span and about "60 per cent more expensive' than a new aircraft carrier.
Tribal students in Jharkhand, who were given textbooks free of cost, could not use them as there were no "qualified teachers" to teach tribal languages, a Comptroller and Auditor General of India's report has said. The government in 2003 decided to introduce tribal languages for class I to V, it said.
The Comptroller and Auditor General of India plans to focus on infrastructure companies and banks for special audit during the current financial year.
It was planned to add 2,000 kms of new lines, convert 10,000 km of metre/narrow gauge into broad gauge, double the 6,000 km of single track and electrify 3,500 km of routes during the 11th Plan.
If CAG indicts Raja, will action be taken? asks Business Standard.
Earlier this month, the corporate affairs ministry had written to various ministries including telecom, railways and steel seeking directions for public sector units under their administrative control for exempting Satyam from submitting audited balance sheets while bidding for projects of the state-owned firms.
The police department had 49,143 units of weapons, of which 11,232 or about 23 per cent, were obsolete, the CAG report for the year ended March 31, 2009 said. There was also shortage of weapons as per Bureau of Police Research and Development (BPRD) norms.
The Central Board of Excise and Customs has decided to prescribe time limits for various activities following representations from the trade and recommendations from the Comptroller and Auditor General of India
Vinod Rai, a 1972 batch IAS officer of Kerala cadre, took oath on Monday as the country's new Comptroller and Auditor General of India. Rai, who replaced V N Kaul, was administered the oath of office by President Pratibha Patil at a brief function at Rashtrapati Bhawan. Vice President Hamid Ansari, Prime Minister Manmohan Singh and Finance Minister P Chidambaram were among the dignitaries present at the ceremony.
What the INDIA alliance needs is neither a counter to Modi's tall personality and undiminished charisma nor a counter-narrative to his Hindutva agenda, now centred on the Ayodhya temple consecration on January 22, argues N Sathiya Moorthy.
The Union home ministry has recommended the special CAG audit taking note of a May 24 letter by Lieutenant Governor V K Saxena which pointed out 'gross and prima facie financial irregularities' in the 'reconstruction' of the chief minister's official residence, they claimed.
The Comptroller and Auditor General of India on Friday criticised the previous National Democratic Alliance government for undervaluation of a number of public sector units, including Balco and VSNL, where equity was divested.\n\n
Reliance Industries has written to the government that it has no objection to the Comptroller and Auditor General of India auditing its gas field costs and said it is operating the field in compliance with rules.
With the Comptroller and Auditor General slamming the government for buying the second-hand Admiral Gorshkov at the price of a new aircraft carrier, Navy Chief Admiral Sureesh Mehta on Thursday defended the price being paid by India for the warship.
