Sunday, 27 November, 2022
TopicCAG

Topic: CAG

After Union govt, states obfuscating budgets. India needs true bond market more than CAG audits

As seen with the fall of the Liz Truss govt in the UK, a well-functioning bond market can sometimes be more brutal and more effective in taming government profligacy.

Start planning to shut down sick PSUs approved by cabinet, Modi govt tells ministries

Centre expected to raise Rs 65,000-cr through disinvestment & privatisation of state-run firms this financial year. Govt official says move aimed at ensuring resources aren't wasted.

CAG flags ‘irregularities worth crores’ in IIM Rohtak’s accounts, institute says nothing wrong

Report says institute not eligible for Rs 48.90-cr tax exemption, mentions ‘exorbitant fees’, ‘violation of not-for-profit motive’. IIM justifies finances, says it's exempt under IT Act.

Group of lawyers demands probe into ‘illegal acts’ of CJI Ramana while setting up mediation centre

Representation signed by 65 legal professionals urges CAG to probe allegations since it involves 'misuse of public funds & assets by Telangana govt, overlooking procedure & propriety'.

Remember a convicted ‘non-guilty’ IAS officer, HC Gupta, when fretting over stalled economic reforms

The 2010-13 season of scandal-mongering still casts a shadow on Indian politics, and the victims are those at the lowest end of the decision-making chain.

‘Outdated data, gaps in assessment’: CAG red-flags govt nod for multiple coastal projects

CAG report, tabled in Parliament on 8 August, says projects awarded clearances without adequate checks and balances in place. Alleged violations cited include use of outdated data.

Railway ministry needs to be more ‘realistic’, says CAG on demand for supplementary grants

In a report tabled in Lok Sabha, CAG said excess expenditure against sanctioned estimates and expenditure without detailed estimates have been recorded by zonal railways administration.

CAG rebukes Andhra government over ‘gross financial mismanagement’

In State Finances Audit Report for March 2020 tabled in AP assembly Friday, CAG observed govt needs to estimate resources 'more realistically', manage expenditure 'judiciously'.

Assam govt yet to address Rs 2,15,286-crore ‘irregularities’ highlighted since 1994: CAG

CAG said the alleged irregularities were pointed out in 2,734 inspection reports issued between 1994-95 and 2018-19 covering 55 depts of Assam govt.

CAG pulls up Assam govt on Compassionate Family Pension scheme for defying legal principles

The Assam government has booked the entire expenditure of the CFP scheme under 'pension', violating budget and accounting rules applicable to any new scheme, the CAG said.

On Camera

YourTurn

Representative image | Pixabay

Apple revolutionised smartwatch. Then came the budget wave and more—AmazFit, Fitbit to Samsung

The Fitbit Versa 4 and Sense 2 are good options for fitness fiends who want a smartwatch for fitness tracking only, while Garmin is great for extreme sports enthusiasts.
Representative image | Reuters

GameFi is revolutionising global NFT market. Here’s how crypto regulations could shape it

GameFi is the intersection of gaming and finance in an environment driven by use of blockchain, non-fungible tokens and smart contracts.

Defence

Illustration: Soham Sen | The Print

Modi govt moves with Arunachal Frontier Highway, among India’s ‘toughest’ projects yet, China in mind

The 2,000 km-long highway will be of strategic importance to military. Same equipment used on other side of LAC being deployed to carry out work on tough terrain, say officials.

A Gujarat gamble: A likely reason Rahul is not giving Modi a fight this assembly election

I'd rather not buy idea that Rahul's holding his fire until 2024. More likely, Congress believes Karnataka offers best chance of winning a Gujarat-sized state if Gujarat is too challenging.