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In 2012–13, out of the 78 PSUs which had finalised their accounts during that fiscal year, 45 PSUs earned a total profit of ₹ 666.86 crore and 31 PSUs incurred loss of ₹ 607.34 crore, as per CAG report. Kerala State Beverages Corporation was the most profit making PSU, while the Kerala State Electricity Board incurred an operational loss ...
A CAG report on issue of Licences and Allocation of 2G Spectrum [27] resulted in a huge controversy. The report estimated that there was a presumptive loss of ₹ 176,600 crore (US$21 billion) by the United Progressive Alliance (UPA) government. [28]
Comptroller and Auditor General (CAG) of India— a body which audits the receipts and expenditures of the central and state governments, and bodies funded by them—observed in its 2010 report that participation of various constituents in a MP’s constituency such as residence forum or local NGOs were ignored to understand local needs.
It involves among others, (a) accountancy audit, (b) regularity audit, (c) appropriation audit, (d) discretionary audit and (e) efficiency-cum-performance audit. At the beginning of its term every year, the committee makes a selection of audit paragraphs included in the various reports of C&AG for in-depth examination.
The second performance audit by the Comptroller and Auditor General (CAG) of India covered 3,848 gram panchayats (GPs) in 28 states and 4 union territories (UTs) from April 2007 to March 2012. [76] This comprehensive survey by the CAG documents lapses in implementation of the act.
The PDs, DsG, AsG and PAsG report to Additional Deputy CAG or Deputy CAG. Deputy CAGs are the highest-ranked officers in the service. After training, the Officer Trainees are posted as Assistant Accountant Generals and Assistant Directors at Junior Grade Group A and later promoted to Deputy Accountants General (DAsG) or Deputy Directors (DDs ...
Vinod Rai (born 23 May 1948) is a former IAS officer who served as the 11th Comptroller and Auditor General of India.He assumed office on 7 January 2008 till 22 May 2013. [1] [2] He is the current chairman of UN Panel of External Auditors and Honorary Advisor to the Indian Railways and a member of the Railway Kaya Kalp Council.
Based on the performance audit done by C&AG presented in report no. 28 for the year 2010-11, the COPU had the following findings: "Due to unrealistic estimation of reserves/production, OVL has suffered a huge loss of Rs.1182.14 crore during the period 2008-09 and 2009-10.