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The DoT though failed to implement TRAI's recommendations to levy spectrum usage charge for the combined total of spectrum allocated in different technologies (GSM and CDMA) in specific bands without any reason on record.
In its audit report on Indirect Taxes (central excise) tabled in Parliament, Comptroller and Auditor General showed that arrears (pending recovery) have been rising since 2011-12. At the end of 2011-12, the arrears were Rs 35,964 crore.
Government has garnered over Rs 2 lakh crore by auctioning just 33 blocks in two phases, surpassing the Rs 1.86 lakh crore loss estimated earlier by government auditor CAG for allotment of mines without auction.
Maintaining that auditors cannot simply be “cheerleaders,†Comptroller and Auditor General of India Vinod Rai on Sunday said their mandate was to hold the government financially accountable to the legislature.
Government auditor CAG today recommended tighter tax norms, including mandatory TDS, for the Indian cinema and television industry, which is estimated at over Rs 36,000 crore.
The Reserve Bank of India (RBI) said on Friday a review of some banks revealed that in certain cases the lenders failed to monitor the use of funds by borrowers effectively, enabling them to divert the money into other areas.
