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  • Govt received Rs 36,709 crore dividend from 100 PSUs in 2018-19: CAG Feb 09, 2021 10:25 PM IST

    Govt received Rs 36,709 crore dividend from 100 PSUs in 2018-19: CAG

    CAG further said 13 government companies under the Ministry of Petroleum and Natural Gas contributed Rs 29,272 crore, representing 40.74 percent of the total dividend declared by all government companies and corporations.

  • Andhra Pradesh faces debt burden of Rs 3.73 lakh crore: CAG Jan 03, 2021 07:00 PM IST

    Andhra Pradesh faces debt burden of Rs 3.73 lakh crore: CAG

    In the first eight months of the current financial year, the state government incurred a revenue expenditure of Rs 70,082.90 crore, almost all of which went towards the numerous freebie schemes of the ruling YSR Congress.

  • CAG seeks details on banks' performance after recapitalisation: Report Dec 28, 2020 10:08 AM IST

    CAG seeks details on banks' performance after recapitalisation: Report

    In September, the Parliament approved capital infusion of Rs 20,000 crore into public sector banks (PSBs).

  • Indian Railways: 14% newly commissioned diesel locos failed within 100 days, not enough LHB coaches manufactured, says CAG Sep 30, 2020 03:07 PM IST

    Indian Railways: 14% newly commissioned diesel locos failed within 100 days, not enough LHB coaches manufactured, says CAG

    Defective material in loco manufacturing, bad workmanship main reasons. CAG also pulls up Railways on LHB coaches. A committee had recommended a switchover to the manufacture of these coaches by 2012. However, it came into effect only from April 1, 2018.

  • CAG report slams Centre for failing to utilise cesses for purposes intended by Parliament Sep 25, 2020 04:58 PM IST

    CAG report slams Centre for failing to utilise cesses for purposes intended by Parliament

    Not only was the revenue/fiscal deficit understated due to the non-transfer of money collected through various cesses to reserve funds, failure of the finance ministry to create or operate essential reserve funds makes it difficult to ensure that the cesses had been utilised for the specific purposes intended by Parliament, said the CAG.

  • CAG report on government finances slams Centre for 'unrealistic assessment of financial resources' Sep 25, 2020 02:51 PM IST

    CAG report on government finances slams Centre for 'unrealistic assessment of financial resources'

    Actual revenue receipts fell short of the RE by Rs 1.86 lakh crore (9.35 percent). As a result of this shortfall, despite compression of revenue expenditure as compared to the RE by Rs 1.42 lakh crore (5.94 percent), the actual revenue deficit was higher than anticipated by Rs 43,440 crore, CAG has found

  • Why the CAG found Indian Railways' finances in a sorry state Sep 25, 2020 01:06 PM IST

    Why the CAG found Indian Railways' finances in a sorry state

    The CAG peeked through Indian Railways’ window and found it was dressing up numbers. Including advance freight earnings has done little to tackle the national transporter’s continuing pain. Internal resource generation has dwindled and dependence on borrowings is rising

  • Constant rule tweaks, corporate reluctance make India’s defence offset policy ineffective Sep 24, 2020 02:12 PM IST

    Constant rule tweaks, corporate reluctance make India’s defence offset policy ineffective

    Defence industry experts say, while there have been many changes to offset and defence procurement policies by the government, defence contractors themselves are unwilling to bear the additional cost of offsets.

  • CAG says Indian Railways resorted to 'window dressing' of working expenses Sep 23, 2020 09:56 PM IST

    CAG says Indian Railways resorted to 'window dressing' of working expenses

    CAG said against the target of 92.8 percent in the Budget estimates, the operating ratio of Railways was 97.29 percent in 2018-19, which means Railways spent Rs 97.29 to earn Rs 100.

  • CAG questions Assam government's financial practices, doubts accuracy of accounts Aug 31, 2020 10:17 PM IST

    CAG questions Assam government's financial practices, doubts accuracy of accounts

    In its audit report on the the state's finances for the year ending March 31, 2019, which was tabled in the Assam Assembly on August 31, the CAG said the government failed to take corrective steps despite the auditor pointing out the lacunae every year.

  • CAG report on defence offset performance to be tabled in next Parliament session: FM Sitharaman Aug 22, 2020 08:05 PM IST

    CAG report on defence offset performance to be tabled in next Parliament session: FM Sitharaman

    The COVID-19 pandemic shortened the last session of Parliament due to which the CAG report was postponed

  • Former J&K Lt Governor GC Murmu takes charge as CAG Aug 07, 2020 08:25 AM IST

    Former J&K Lt Governor GC Murmu takes charge as CAG

    Girish Chandra Murmu, the former Lt. Governor of Jammu & Kashmir, was administered the oath of office and secrecy by President Ram Nath Kovind at Rashtrapati Bhavan.

  • Policy | Why PM CARES and other relief funds must be audited by CAG May 01, 2020 09:47 AM IST

    Policy | Why PM CARES and other relief funds must be audited by CAG

    The PM-CARES fund, just like the PMNRF and many CM relief funds, is opaque in its functioning, even as it collects donations using State apparatus

  • Politics | AAP’s victory makes a case for a strong city-state in India Feb 18, 2020 01:29 PM IST

    Politics | AAP’s victory makes a case for a strong city-state in India

    AAP's success in Delhi will strengthen the argument for more spending on subsidies towards public schemes at the state and central level.

  • Policy | The economics behind AAP’s freebies and its viability Feb 18, 2020 10:01 AM IST

    Policy | The economics behind AAP’s freebies and its viability

    While the AAP government is not running its schemes by borrowing money, Delhi’s revenue surplus is coming down with each passing year and its fiscal deficit is growing.

  • Budget 2020 | A parallel taxation system may spell more tax conflict Feb 03, 2020 04:22 PM IST

    Budget 2020 | A parallel taxation system may spell more tax conflict

    The most charitable interpretation of the Budget is it has lost an opportunity to invigorate the economy.

  • The magic beans that will grow central government revenues this year Feb 03, 2020 10:03 AM IST

    The magic beans that will grow central government revenues this year

    The states’ share of revenue is being cut drastically

  • Air India unions refuse to learn from history Dec 23, 2019 12:14 PM IST

    Air India unions refuse to learn from history

    Airline is no jewel. It has accumulated losses in excess of Rs 50,000 crore and is a drain on the national exchequer

  • Auditing the auditor: NFRA is fine, but more steps needed Dec 16, 2019 03:48 PM IST

    Auditing the auditor: NFRA is fine, but more steps needed

    The government would do well to usher in auditing reforms

  • Non-compliance of govt directives by CPSEs led to shortfall of Rs 9,417 cr in dividend: CAG Dec 10, 2019 08:45 PM IST

    Non-compliance of govt directives by CPSEs led to shortfall of Rs 9,417 cr in dividend: CAG

    As per the norms, all profit-making central public sector undertakings (CPSUs) are required to declare a minimum dividend on equity of 20 per cent or a minimum dividend payout of 20 per cent of after-tax profit, whichever is higher, subject to availability of disposable profits.

  • Time to put railway finances on track Dec 05, 2019 09:54 AM IST

    Time to put railway finances on track

    The CAG report should serve as a cornerstone to clean up the books of Indian Railways

  • Railways' spent Rs 98.44 in FY18 to earn every Rs 100, its worst operating performance in a decade Dec 02, 2019 04:50 PM IST

    Railways' spent Rs 98.44 in FY18 to earn every Rs 100, its worst operating performance in a decade

    An operating ratio of 98.44 per cent means that the railways spent Rs 98.44 to earn Rs 100.

  • PM Modi asks CAG to develop innovative methods to check frauds in govt departments Nov 21, 2019 07:49 PM IST

    PM Modi asks CAG to develop innovative methods to check frauds in govt departments

    Modi was addressing a conclave of the Comptroller of Auditor General (CAG) on transforming audit and assurance in a digital world.

  • CAG report lays bare gaps in IGST settlement. Time to retool? Aug 12, 2019 01:47 PM IST

    CAG report lays bare gaps in IGST settlement. Time to retool?

    The input tax credit (ITC) model of GST owed its origin to the premise of ‘matched invoices’. But it has become too problematic.

  • GST matters: CAG hits the nail on the head. The realities back up Aug 02, 2019 12:44 PM IST

    GST matters: CAG hits the nail on the head. The realities back up

    Billed as a good and simple tax, GST needs a feel good factor. The sooner the government realises, the better.

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