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.
The government had also appointed PricewaterhouseCoopers as consultant to come up with a road map to upgrade base kitchens and service on trains.
The CAG audit and other data suggests it could be far from the efficient new alternative that was once conceptualised. A conclusive review remains elusive till the government begins to release more granular and comparable data on the complex backend of GST to a deeper scrutiny, by researchers, auditors and the public.
Finance Minister P Chidambaram on Wednesday promised to take steps to address "some of the discomforting aspects" relating to the divestment of the Centaur Hotel in Mumbai
Yashwant Sinha explains where the Modi government has gone wrong in its handling of the economy.
The government had last year excluded those with an annual income of more than Rs 10 lakh from LPG subsidy
RIL, Videocon A/c mistakes cause over Rs 500 cr tax loss: CAG.
Faulty laws helped oil majors IOC, HPCL and BPCL -- to avoid excise payment of Rs 713 crore (Rs 7.13 billion) to the government during April-December 2002, the Comptroller and Auditor General of India has said.
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
Krishnamoorthi, 43, won the Chicago-area US House of Representatives seat, the 8th Congressional District, vacated by Tammy Duckworth who won Illinois's US Senate seat.
The Shunglu committee, which went into the financial needs of the Indian Institutes of Management, is understood to have backed the drastic fee reduction mooted by Human Resources Development Minister Murli Manohar Joshi.
The bench said that 'argument on the preliminary issue and the claim of privilege raised by the Government of India is reserved'.
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 electricity board lost Rs 1,111.35 crore owing to irregularities.
The examination was scheduled to start at 1400 IST at 50 centres all over the country.
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"
Comptroller and Auditor General of India V N Kaul said on Monday that there was a need to review government accounting system for bringing in transparency
PAC Chairman K V Thomas, however, remained non-committal over these demands.
Under attack over his remarks that official auditor should not "sensationalise" its audit findings, Finance Minister Arun Jaitley on Thursday said media did not accurately reflect the spirit of his speech at the CAG conference.
Government auditor, the Comptroller and Auditor General has slammed the Navy, defence ministry and a state-run shipyard for the protracted delay in carrying out refit of submarine INS Sindhukirti because of which the force was unable to operate one of their lethal platforms since June 2004.
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 court is hearing a PIL which charges that the country suffered a loss of Rs 2,000 crore because norms and procedures were not followed in procurement of arms and ammunitions.
"Many people who had some links with Agusta, I am not saying illegitimate links, but some links with Agusta procurement and supply, were given good positions," Parrikar told PTI in an interview.
The MoD panel had submitted its report in March 2015, weeks before Prime Minister Narendra Modi announced that India would procure 36 jets.
The defence minister said it could not be given to the Public Accounts Committee.
As corporate India gears up to be GST-ready, the ongoing litigation and tax dispute cases are something most businesses are cagey about.
Congress leader Sanjay Nirupam on Monday slapped a legal notice on ex-Comptroller Auditor General Vinod Rai accusing him of defamation and threatened to launch criminal proceedings if he did not apologise for remarks that the MP had asked the former chief auditor to drop Manmohan Singh's name from 2G report.
The Comptroller and Auditor General has pulled up leading public sector undertakings for glaring lapses in balance sheets, saying assets were overstated by Rs 377.43 crore (Rs 3.77 billion) in four Navratna companies including SAIL.
She would also have a separate meeting with the defence secretary every day.
'India has seen that whenever dynastic politics has been powerful, institutions have taken a severe beating'
The Comptroller and Auditor General said on Thursday that inventory assets of public sector undertakings had become a "vulnerable" area for divestment as these were not complete and not verified systematically.\n\n\n\n
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.
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.
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