The Comptroller and Auditor General of India plans to focus on infrastructure companies and banks for special audit during the current financial year.
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.
In 2001, George Fernandes was in the cross hairs of the Comptroller and Auditor General over the purchase of allegedly overpriced coffins for soldiers killed in battle. Seven years later, the CAG has zeroed in on Fernandes' pet project -- a new ordnance factory in his parliamentary constituency, Nalanda, to manufacture 155 mm ammunition for Bofors guns -- slamming it as a poorly planned project that was rushed through urgently.
Reliance Industries on Wednesday assailed reports of the Comptroller and Auditor General and expert P Gopalakrishnan, which have alleged the company got undue benefits pertaining to Krishna-Godavari basin gas and its pricing.
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.
Asking the Central Bureau of Investigation to respect the line that divides between policy making and policing, Finance Minister P Chidambaram on Tuesday came down heavily on investigating agencies and Comptroller and Auditor General for "overstepping" their limits by attempting to convert bonafide executive decisions into either crimes or abuse of authority.
The defence ministry's new procurement policy is causing delays.
Nirupam had filed a defamation case against Rai after the former CAG in his book in 2014 made the allegation against him and repeated it in interviews to the media.
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.
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
West Bengal lost Rs 546.68 crore (Rs 5.46 billion) in 2007-08 for not having its own fiscal responsibility law, which mandates fiscal discipline, according to the Comptroller and Auditor General (CAG).
State-run power firm NTPC overstated its profits by Rs 938 crore (R 9.38 billion) in 2007-08, the Comptroller and Auditor General of India said in a report, but categorically stated that chances of Satyam like frauds in PSUs are very remote.
The Sena and Shiv Sena-Uddhav Balasaheb Thackeray labelled each other gaddar (traitor) after Shinde's rebellion split their original party last year, while Deputy Chief Minister Devendra Fadnavis publicly asserted he had exacted revenge on Thackeray for his betrayal.
CAG said that Reliance Infocomm and Tata Tele Services Ltd have caused a loss of Rs 184 crore to 3 state-run insurance firms between 2002-05 on risk cover for mobile handsets and default payments.
The CAG, who blamed what he called a lack of accountability in bureaucracy for delays in action on audit reports, said officials who sit over them should be punished.
For the first time in its history, the department of the comptroller and auditor general (CAG) has conducted a cleanliness audit for the Indian Railways.
Handing out a reprimand to the Navy for the lapse, the CAG said this was 'seriously limiting their operations capabilities.'
The IT-BT minister claimed that the then BJP government did not merely charge a '40 per cent commission', as his party had claimed during the assembly election, but had collected a commission of more than 400 per cent.
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.
According to the recent report, IAF's Air Officer Commander at one of the stations was approached by the Reliance Infocomm for installation of a booster antenna within the station complex in May 2004 and the permission was granted by the concerned authorities. The company was asked to pay Rs 5,000 as rent and allied charges to the government, which was subsequently reduced to Rs 1,000 in September 2005.
A bench comprising Chief Justice Uday Umesh Lalit and Justice Bela M Trivedi said it was sitting in a combination of two and according to a reference order on the matter, it should go before a bench of three judges for disposal.
The recent draft report of the Comptroller and Auditor General (CAG) which pointed to misuse and non-utilisation of funds for the National Rural Employment Guarantee (NREG) scheme doesn't mean the programme is a write-off. The audit will act as a deterrent and spur state governments to work more efficiently, Rural Development Minister Raghuvansh Prasad Singh has said.
With the photo-identity card issue in the capital kicking up a major controversy, Prime Minister Manmohan Singh on Monday said that if there are any practical problems, these will be resolved. "I do not want to go into the motives. If there are any practical problems, we will resolve them," he told reporters on the sidelines of a function where the new Comptroller and Auditor General of India was sworn-in at the Rashtrapati Bhawan.
His appointment will be effective from the date he assumes charge of his office, an official statement said on Monday. An Indian Administrative Service officer of Kerala cadre, 1972 batch, Rai will take over from V N Kaul.
This alternative is being planned as the existing projects continue to be delayed due to land acquisition troubles. The ministry is thinking of adding new track lines to its existing eastern and western DFCs passing major areas in the proposed stretches, senior officials said.
The company's accounts were audited by CAG as its shareholders include public sector banks.
Congress on Friday sought the dismissal of Divestment Minister Arun Shourie from the Cabinet for his statement terming as "idiotic" the Comptroller and Auditor General's
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
Comptroller and Auditor General has pulled up the finance ministry for flaws in double taxation avoidance agreements
Yashvardhan Kumar Sinha was appointed as the chief information commissioner on Saturday, according to a Rashtrapati Bhavan statement.
Unable to face competition of a liberalised environment, as many as 88 public sector undertakings have eroded
Audit scrutiny of expenditure on foodgrains (Rs 37.4 crore) and cash dole (Rs 44.59 crore) revealed delay in distribution, doubtful purchase of material, doubtful distribution of foodgrain and non-submission of detailed contingent bills.
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
The affidavit was filed in response to a petition seeking a direction to declare the PM CARES Fund a 'State' under the Constitution to ensure transparency in its functioning.
The government carries out a review of the defence procurement process every two years to make changes gained from experience and to incorporate new contract clauses for probity.
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