The Comptroller and Auditor General of India (CAG) has launched an integrated audit across 32 states and Union Territories to assess the ease of doing business for the micro, small and medium enterprise (MSME) sector.
India Ratings & Research (Ind-Ra) has projected the aggregate fiscal deficit of states to rise to 3 per cent of gross domestic product (GDP) in 2026-27 (FY27), from an estimated 2.8 per cent in 2025-26 (FY26), citing higher revenue expenditure amid election-related pressures and scheme cost-sharing requirements.
Trade deals ease risks for Indian equities, but weak demand and stretched valuations raise questions over whether optimism -- especially in smallcaps -- can turn into a sustained bull run, points out Debashis Basu.
The committed expenditure recorded a 9.37 per cent increase, reaching Rs 15.64 trillion.
The International Organisation of Supreme Audit Institutions (INTOSAI) has adopted the 2026-28 Work Plan, which prioritises cybersecurity audits and remote audits using Internet of Things technologies, CAG said in a release on Friday. The work plan was adopted at the 34th Annual Meeting of INTOSAI Working Group on IT Audit (WGITA), which was held along with the 17th Steering Committee Meeting of the INTOSAI Knowledge Sharing Committee (KSC) in Hyderabad.
Voters are weighing a stark trade-off -- between preserving a socially driven policy and reversing course to revive revenue, restore fiscal balance, and rein in the underground liquor economy.
The Comptroller and Auditor General (CAG) of India has criticized the Maharashtra state excise department for operational lapses that led to a significant revenue shortfall. The report cites incorrect fee assessments, failure to implement revised rates, and other irregularities.
The Supreme Court will hear a plea seeking an independent selection process for the Comptroller and Auditor General of India (CAG) on March 17. The PIL, filed by the Centre for Public Interest Litigation, argues that the current system of appointment solely by the executive and the prime minister violates the Constitution and undermines the CAG's independence. The petition calls for a transparent process involving the prime minister, Leader of the Opposition, and Chief Justice of India. The PIL contends that the CAG's role as a watchdog over government finances requires a fair and non-arbitrary appointment procedure.
CAG warns most states of fiscal imprudence as March spending overshoots limits, with key departments exhausting large portions of budgets in the last month of FY24.
India on Friday won a crucial election to the UN Board of Auditors with its nominee Shashi Kant Sharma, the Comptroller and Auditor General, garnering the largest number of votes.
The Supreme Court of India has sought the government's response on a Public Interest Litigation (PIL) that challenges the appointment process of the Comptroller and Auditor General of India (CAG), arguing it's unconstitutional. The PIL, filed by the Centre for Public Interest Litigation, claims the current process, solely through executive appointment by the Prime Minister, undermines the CAG's independence and violates constitutional principles. The court, while acknowledging the importance of institutional trust, questioned the extent to which it should intervene in the appointment process and whether this would constitute rewriting constitutional provisions. The PIL suggests the CAG's appointment should be similar to other independent bodies, with a selection committee comprising the Prime Minister, Leader of the Opposition, and Chief Justice of India. The case has implications for the independence and transparency of India's audit system.
The revised salaries of MPs are significantly lower than the salaries drawn by top bureaucrats in the country.
The Reserve Bank of India (RBI) brass, including its Governor Sanjay Malhotra, on Tuesday told a Parliamentary panel that it was "optimistic" about the impact of the US tariffs on the Indian economy and, in long-run, it could benefit the country due to dipping trade relations between the US and China.
Atishi alleged that the BJP had disrespected BR Ambedkar by removing his portrait from the chief minister's office.
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
'The quality of justice is directly linked to the quality of judges -- if that suffers, justice delivery suffers.'
Acting as external auditor to World Health Organisation, CAG flagged a number of risks associated with the execution of the Global Management System project, where Satyam happens to be the key contractor. The $55.5 million project was initially targeted to go live in September 2007, but was given its first extension until December 2007, then a second until March 2008 and a third until June 2008, the auditor said.
The day after the closing ceremony, the Prime Minister's Office had asked the OC to make sure all documents were kept safe.
As the election nears, political positions on prohibition are shifting.
The Supreme Court has agreed to examine a PIL alleging that Arunachal Pradesh Chief Minister Pema Khandu awarded government contracts to his family members. The court has asked the state government to provide details of the beneficiaries and inform if due process was followed. The bench also sought responses from union ministries of home affairs, finance and the Comptroller and Auditor General of India on the issue within five weeks.
Raut was responding to a reporter's question about opposition parties' claim that Gadkari was targeted through the Comptroller and Auditor General (CAG) report on alleged irregularities in the work done by the National Highway Authority of India (NHAI).
AAP projects its affordable 'health model' as a success story. The BJP calls it a hoax.
Stressing the need to make evidence-based policy formulation an integral part of governance, the prime minister said auditors must resort to technical tools to iron out any chances of fraud in organisations and give a new identity to new India.
In FY24, the net income generated from Waqf properties fell to about Rs 1.26 crore from Rs 150 crore in FY20.
The firm, headed by Sunil Kumar Gupta, was appointed auditors of the PM's National Relief Fund in 2019, reports Archis Mohan
A historian, a retired auditor and a financial executive were among four people named by India's highest court on Monday to run the country's cricket board (BCCI).
Three ED officers were injured and several of their vehicles vandalised, as hundreds of supporters of TMC leader Shajahan Sheikh attacked them on January 5, when the team went to conduct a raid at his house in Sandeshkhali in connection with alleged irregularities in the state's ration system.
Battered by various Comptroller and Auditor General reports on alleged scams, government says it is "actively" considering a proposal to make the official auditor a multi-member body.
The current process for selecting auditors could compromise their "independence".
Murmu made and subscribed to the oath of office before President Ram Nath Kovind, according to a Rashtrapati Bhavan statement.
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.
The civil aviation ministry initiated and then made a mess of the merger of the erstwhile Indian Airlines with Air India, according to a Comptroller and Auditor General report.
India has been elected to the newly established Independent Audit Advisory Committee, a five-member body which is expected to contribute to improving the accountability of the UN Secretariat to the member states.
Earlier in the day, President Ram Nath Kovind accepted Murmu's resignation as the Lt Governor of Jammu and Kashmir.
Head coach Thomas Dennerby was a witness to the 'incident' and it was he, who immediately informed the AIFF.
'Maharashtra is virtually in a debt trap.'
The Comptroller and Auditor General (CAG) is understood to have questioned the government's reasoning to order 111 planes for Air India for almost Rs 50,000 crore (Rs 500 billion) in 2006.
India national team and Bengaluru FC footballer, CK Vineeth was given the pink slip by Kerala Accountant General for lack of attendance
The CAG's 2008 audit report points out several irregularities in defence deals, ranging from procurement of arms to cost incurred for wasteful research and development.
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