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  • CAG questions government's fiscal math for FY16 Dec 19, 2017 09:05 PM IST

    CAG questions government's fiscal math for FY16

    In a report tabled in Parliament, CAG observed that ministries have surrendered large portion of money allocated towards schemes like Nirbhaya, Make in India, National Investment and Infrastructure Fund, etc.

  • CAG raps FSSAI over licensing process, poor food testing labs Dec 19, 2017 03:06 PM IST

    CAG raps FSSAI over licensing process, poor food testing labs

    The Food Safety and Standards Authority of India (FSSAI) also failed to ensure that unsafe foods are not imported to the country, said the Comptroller and Auditor General of India (CAG) in its performance audit report on Implementation of Food Safety and Standards Act 2006.

  • CAG pulls up MRPL for frequent plan revision resulting in cost overruns Aug 02, 2017 06:34 PM IST

    CAG pulls up MRPL for frequent plan revision resulting in cost overruns

    The report finds that the company did not use the ECB loan resulting in some funds lying idle as far as phase 3 implementation was concerned

  • CAG raises concerns over PSBs' ability to raise funds, raps them over NPA issues Jul 28, 2017 08:03 PM IST

    CAG raises concerns over PSBs' ability to raise funds, raps them over NPA issues

    The government auditor has also found that most PSBs have a lower market value compared to their book value, because of which they could have a difficulty in approaching markets for additional capital infusion

  • Telecom woes: CAG finds underestimation of revenues by 6 telcos Jul 21, 2017 02:36 PM IST

    Telecom woes: CAG finds underestimation of revenues by 6 telcos

    More bad news coming in for telecom companies. Comptroller and auditor general (CAG) audits six private telecom companies and finds understatement of adjusted gross revenue (AGR) of Rs 61,064 crore between FY11 and FY15.

  • AI made Rs 321 cr operating loss last fiscal, not profit: CAG Mar 10, 2017 07:40 PM IST

    AI made Rs 321 cr operating loss last fiscal, not profit: CAG

    Apex auditor CAG today said Air India "actually incurred" an operating loss of Rs 321.4 crore last fiscal instead of an operating profit as reported by the airline.

  • Noida Toll Bridge retrenched 80, laid off 143 after SC order Nov 25, 2016 11:12 AM IST

    Noida Toll Bridge retrenched 80, laid off 143 after SC order

    The company spends around Rs 95 lakh per month on road maintenance and employed around 450 people but now they are not able to maintain the full strength of employment post the order. Raj Bhargava, Chairman, Noida Toll Bridge Company.

  • Chidambaram vs Subbarao face off: Did UPA pressurise RBI? Aug 20, 2016 04:25 PM IST

    Chidambaram vs Subbarao face off: Did UPA pressurise RBI?

    At the book launch event of former Reserve Bank of India Governor Duvvuri Subbarao's Who Moved My Interest Rates, former Finance Minister P Chidambaram took part in a panel discussion and offered his take on some of contentious issues raised by the ex-central bank chief.

  • Top telcos get DoT notice on alleged revenue under-reporting Aug 11, 2016 01:54 PM IST

    Top telcos get DoT notice on alleged revenue under-reporting

    The Department of Telecommunication (DoT) has served notices to top telecom companies acting on a report by the Comptroller and Auditor General of India (CAG) alleging under-reporting of revenues, reports CNBC-TV18.

  • Bank Board Bureau holds first meet, discusses stressed assets Apr 08, 2016 10:00 PM IST

    Bank Board Bureau holds first meet, discusses stressed assets

    The Bureau, headed by former comptroller and auditor general of India (CAG) Vinod Rai, also discussed strategies for recapitalising banks and making them more competitive, Minister of State for Finance Jayant Sinha told reporters.

  • Govt took Rs 12,489 cr hit as telcos understated revenue: CAG Mar 11, 2016 05:29 PM IST

    Govt took Rs 12,489 cr hit as telcos understated revenue: CAG

    Under-invoicing of revenue by six telecom operators including Reliance Communications, Vodafone and Airtel caused Rs 12,488 crore loss to exchequer, the CAG said in a damning report today.

  • Oil Min orders charging market price for gas for non-urea use Mar 08, 2016 09:17 PM IST

    Oil Min orders charging market price for gas for non-urea use

    The ministry has asked state-owned gas utility GAIL India Ltd to charge a rate equivalent to price of imported liquefied natural gas (LNG) for regulated domestic gas, called APM gas, used by fertiliser plants for manufacturing non-urea products.

  • Rupee not overvalued; steel a big problem area: RBI's Rajan Dec 01, 2015 05:12 PM IST

    Rupee not overvalued; steel a big problem area: RBI's Rajan

    Raghuram Rajan says a lot of cleaning up has been done to remove some of the legacy issues. He feels power sector reforms and cleaning up of balance sheets will help unclog some sectors

  • CBI registers PE in Delhi airport land deal May 13, 2015 09:40 PM IST

    CBI registers PE in Delhi airport land deal

    The alleged irregularities in the grant of land at concessional rates for operations to GMR has come under the scanner of the CBI.

  • CAG questions airport concession agreement inked with DIAL May 11, 2015 10:04 PM IST

    CAG questions airport concession agreement inked with DIAL

    GMR's Delhi International Airport is finding itself in the Comptroller & Auditor General's cross-hairs once again. This time, sources say the CAG wants a special audit to see if the Airports Authority of India is losing out on revenues, reports CNBC-TV18‘s Sindhu Bhattacharya and Malvika Jain.

  • TRAI recommends 3G spectrum auction at 22% lower base price Dec 31, 2014 01:26 PM IST

    TRAI recommends 3G spectrum auction at 22% lower base price

    The Department of Telecom, however, is optimistic of getting 5 Mhz of 3G spectrum (2100 Mhz band) from the Defence Ministry.

  • CAG says SEZs taxed more than domestic tariff areas Nov 28, 2014 07:47 PM IST

    CAG says SEZs taxed more than domestic tariff areas

    The CAG report shows that SEZs are being taxed about 37 percent, which is higher than domestic tariff areas. But the government is not ready to make life easier for SEZs just yet.

  • Jaitley asks CAG not to sensationalise its report Oct 29, 2014 06:48 PM IST

    Jaitley asks CAG not to sensationalise its report

    The CAG reports on 2G telecom spectrum allocation and coal mine allotment which carried figures of notional losses to the tune of Rs 1.76 lakh crore and Rs.1.84 lakh crore respectively had caused tremendous discomfort for the UPA government and the Congress party that headed the coalition.

  • ICICI Lombard, HDFC Ergo get tax notices Oct 16, 2014 06:57 PM IST

    ICICI Lombard, HDFC Ergo get tax notices

    Companies that are under are ICICI Lombard, HDFC Ergo and GIC Re, with sources indicating that ICICI Lombard and HDFC Ergo have got tax notice.

  • Coalgate: Vedanta slams govt move to bat for just 46 blocks Sep 09, 2014 06:24 PM IST

    Coalgate: Vedanta slams govt move to bat for just 46 blocks

    Vedanta believes that their coal blocks should not be cancelled if there is no case of criminality.

  • SC's final verdict on coal blocks unlikely tomorrow: IIFL Sep 08, 2014 12:46 PM IST

    SC's final verdict on coal blocks unlikely tomorrow: IIFL

    Harshvardhan Dole, VP Research - Institutional Equities, IIFL does not expect final judgment by the Supreme Court tomorrow as many companies are in the process of filing affidavits, as suggested by the Attorney General. However, he is confident of the final verdict being announced in a few weeks.

  • Not clear what super regulator will do: Khullar Sep 05, 2014 10:57 AM IST

    Not clear what super regulator will do: Khullar

    Amid talks of a new telecom super regulato that could replace the existing Telecom Regulatory Authority of India (TRAI), former TRAI chairman Khullar discussed the merits and demerits of such a proposal.

  • Insurance cos under service tax net for flouting rules Sep 04, 2014 06:00 PM IST

    Insurance cos under service tax net for flouting rules

    According to the audit, many insurance companies wrongfully availed of the central value-added tax (CENVAT) scheme to avoid taxes on certain services.

  • SC begins hearing in coal block allocation scam Sep 01, 2014 06:39 PM IST

    SC begins hearing in coal block allocation scam

    Mukul Rohatgi on his part said that it would not be appropriate to cancel all the coal blocks. He has asked the Supreme Court also to come out with a ruling fast so that decision making is not delayed and the government can actually expeditiously move towards auction of blocks.

  • Cos like Mahagenco are already audited by CAG: Pramod Deo Feb 21, 2014 10:00 AM IST

    Cos like Mahagenco are already audited by CAG: Pramod Deo

    Pramod Deo, Former Chairperson of CERC says these allegations basically mean that there is lack of faith in electricity act and the regulator. He however makes it clear that in no way is he defending the regulators and saying that they are doing their jobs well. "There is always scope for improvement," he adds.

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