In its report tabled in Parliament, the national auditor said the Dassault Aviation and the MBDA proposed in September 2015 to discharge 30 per cent of their offset obligations by offering high technology to the Defence Research and Development Organisation (DRDO), but the two firms are yet to do it.
Any residual amount left in the Compensation Fund after five year compensation period shall be shared equally between the Centre and the states.
The trio also accused PM Modi of single-handedly changing the parameters of the deal.
PAC Chairman K V Thomas, however, remained non-committal over these demands.
Finance ministry sources have countered CAG audit finding of central government wrongly retaining Rs 47,272 crore of GST compensation cess meant for states, saying temporary retention cannot be termed as diversion.
Government auditor CAG on Friday pulled up the Income Tax Department (ITD) for allowing irregular tax exemption to two Tata trusts involving tax implication of over Rs 1,000 crore (Rs 10 billion).
They were participating in a debate on the bill for giving effect to various compliance relief measures for taxpayers, including extending time limits for filing returns, in the wake of the coronavirus crisis and tax benefits for donations to PM CARES Fund.
Akhilesh believes his catchment area is the 4.1 million new voters who are 18 to 19 years old.
Ramesh's reply came when he was asked whether grants would be provided to Karnataka for the Mahatma Gandhi National Rural Employment Guarantee Act and Indira Awas Yojana as the state was now under the Congress rule.
India's mainstream naval fighter jet plane MiG-29K faces operational deficiencies due to defects in engines, airframe and fly-by-wire system leading to very low availability.
The Comptroller and Auditor General of India has criticised the army for "unauthorised" utilisation of helicopters of the aviation corps including sorties undertaken on Saturday, Sunday and holidays which cost the exchequer nearly Rs three crore extra as unauthorised expenditure.
Food to be cooked in base kitchens instead of trains; private players to be involved
RINL wiped out its losses in 2005-06 with money from the government.
The government has suffered a loss of Rs 12,488.93 crore (Rs 124.88 billion) due to under-invoicing of gross revenue by six telecom companies including Reliance Communications, Vodafone and Bharti Airtel, the CAG said in a damning report on Friday.
Government auditor CAG has expressed concern over the post of chairperson of Cyber Appellate Tribunal lying vacant for about five years, saying this has led to not a single case being heard or disposed of despite pending appeals.
The MoD panel had submitted its report in March 2015, weeks before Prime Minister Narendra Modi announced that India would procure 36 jets.
Past experience shows loan waivers benefited only 30% of India's farmers; here again, the richer cultivator skimmed the cream, leaving very little for his poorer brethren.
The Association for Democratic Reforms slams the Budget proposals on political funding, says they lack teeth and show the "lack of political will" in proposing real reforms.
The CAG report, tabled in Parliament, states the interest on the short payment stood at Rs 1,052.13 crore for the period up to March 2016.
Finance Minister Arun Jaitley on Wednesday asked the CAG not to sensationalise its findings to get into headlines, a view the Congress party had voiced in the past after huge notional losses were projected in reports on 2G and coal allocation scams.
The Comptroller and Auditor General on Friday rapped space agency Indian Space Research Organisation for allowing a foreign private satellite service provider to park its satellite in an orbit slot meant for Indian satellites in violation of nation's SATCOM policy and extending "undue benefit" to a foreign firm.
DoT and the company have not done anything that breached the guidelines mentioned in the notice inviting applications for the auction of the BWA spectrum in 2010, it stated in a reply to CAG's draft audit report.
'We have to go through the process of obtaining informed consent.'
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
A lot of the factors towards which the government has pointed to justify its moves on Jammu and Kashmir are in fact valid. Only, most of them have little to do with Article 370, says David Devadas.
The Congress, which was not a petitioner before the apex court, wants the Rafale deal to be referred to a Joint Parliamentary Committee to go into the price arrived at by the BJP government versus the one negotiated by the previous UPA regime, as also how billionaire Anil Ambani's group with virtually no experience in manufacture of fighter jets was selected as an offset partner for the deal.
The Central Board of Direct Taxes, the apex policy making body of the I-T department, has been undertaking a host of steps to bolster the litigation management wing of the department which has come under criticism not only from courts but also successive Finance Ministers and in the audit reports of the Comptroller and Auditor General.
The Supreme Court on Friday granted six weeks time to Mukesh Ambani's Reliance Industries Ltd (RIL) to respond to the final CAG report which found alleged irregularities including in payments made to the contractors on drilling of D6 wells at the Krishna-Godavari basin.
Though Indians were no strangers to scams, spectrum loss was beyond their wildest imagination.
CAG says Railways lost about Rs 4,300 crore in 2008-2012 because of improper documentation.
Former Comptroller Auditor General Vinod Rai has come out with a stinging criticism of former Prime Minister Manmohan Singh saying integrity is not just financial but intellectual and professional too and claimed that Congress leaders had sought to apply pressure on him to keep the PM's name out of audit reports.
States are now gearing up to implement the scheme, integrating it with their own public health insurance plans and tying up the loose ends.
As industrialist Vijay Mallya fights his wilful defaulter tag, former CAG Vinod Rai has said Kingfisher Airlines' loan default is just a "trickle" and the overall problem of huge bad loans at public sector banks can be blamed on 'cronies' using connections to borrow money.
The Universal Service Obligation fund was set up in April 2002 and a statutory status was given to it.
CAG had in its previous reports slammed Oil Ministry and its technical arm DGH for not exercising enough control and vigil over KG-D6 block.
Pulling up Hindustan Aeronautics Limited for an inordinate delay of 14 years in the development and supply of a trainer aircraft, the CAG has observed that the time overrun has affected the Stage-II training of IAF pilots.
An NSSO survey has revealed that some are using the new toilets as store rooms.
Rates to go up as Delhi power regulator works out plan to liquidate past dues.
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
West Bengal Chief Minister Mamata Banerjee could be staring at troubled times ahead as the Saradha scam trail seemingly leads up to her doorstep.
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