Cag Audit

Revenue implication of Rs 4,162 cr as Odisha's iron-ore grade declined: CAG

The Comptroller and Auditor General of India (CAG) which conducted an audit of six iron-ore mines in Odisha has observed that after the auction of the selected mines, there was an "abrupt and abnormal decline in the grade of iron-ore and its classification", as reported by new lessees. "The decline of grade of iron ore has resulted in a revenue implication of approximately Rs 4,162.77 crore for the financial years 2020-21 and 2021-22 in the form of lesser royalty and premium (post auction)", the CAG said in its report No 6 of the year 2024, which was laid before the Odisha Assembly on Wednesday. Though more than 83 per cent production was reported in the grade of 62-65 per cent Fe (iron) in the pre-auction period, the same came down to approximately 16 per cent in the two years after auction (2020-2022), it said. Similarly, the auditor said, the share of grades 60 per cent Fe and below went up from approximately 11 per cent of total production to more than 60 per cent of total ...

SAI India committed to strengthen local governments audits, says CAG Murmu

CAG stressed the importance of transparency and accountability, stating, "These bodies are also vital for implementation of SDGs etc

CAG to explore new audit areas as it adopts end-to-end digital framework

Comptroller and Auditor General of India will be exploring new audit areas, like extraction industries underwater and releasing more reports as the apex government auditor adopts end-to-end digital framework from this fiscal year. In a media interaction post the three-day SAI20 Summit under the Indian Presidency of the G20 here, CAG Girish Chandra Murmu also stressed the need for data standardisation to make audits easier and faster. The CAG, he said had held a seminar with respective departments and ministries in this regard. They have agreed to certain level of data standardisation We surpassed the ten years record last year. It (audit reports) will further increase. Data processing and report preparation will be faster, he said and added the CAG will adopt end-to-end digitalisation to prepare audit reports. The CAG audit reports are placed before Parliament and state legislative assemblies. The apex auditor would be exploring new audit areas, like shipping and extraction ...

BJP demands CAG audit of discoms over power subsidies paid by Delhi govt

The Delhi BJP on Wednesday termed as a "sham" the AAP government's order to conduct a special audit of discoms over power subsidies released to them. Speaking at a press conference, Delhi BJP president Virendra Sachdeva demanded an audit of power subsidy by the Comptroller and Auditor General (CAG). "We do not accept the audit of power subsidy by CAG empanelled audit. The government and discoms can easily influence such an audit," Sachdeva alleged. No immediate reaction was available from the Delhi government or the discoms over the issue. Has any private auditor ever given a report against their client in an audit report, Sachdeva asked. The Delhi government on Tuesday issued a direction to power regulator DERC to conduct a special audit of discoms over power subsidies released to them from 2016 to 2022 to identify any irregularities and ensure transparency. An order issued by Special Secretary (Power) Ravi Dhawan stated that in exercise of the powers conferred by Section 108 of

Ensure adequate competition and minimise vendor lock-in, says CAG report

CAG report said that in future, the department must ensure adequate competition and minimise vendor lock-in by ensuring that more bidders participate in the bidding for tendering for the next contract

NFRA aligning to global standards but industry awaits more clarity

Experts want the authority to set some limit on the time it would spend on on-site visits

CAG calls upon supreme audit institutions to work for mutual benefits

He sought innovative suggestions from members to shape Knowledge Share Committee strategies for the next three years

CAG vs govt: The growing tussle between the auditor and the audited

Over the past decade, rapid structural changes in the economy have radically altered what was once a low-profile department

Railways failed to improve mobility outcomes, mismatch in figures: CAG

The CAG report additionally found avoidable expenses to the tune of Rs 968 crore towards procurement of power from Bhartiya Rail Bijlee Company Limited (BRBCL).

Reliance Infrastructure removes KPMG from BSES stake sale process

KPMG's exit from the mandate means the entire process will now start afresh, led by RInfra itself

At 43%, farm loan waiver bags lion's share in Maharashtra subsidy: CAG

Expenditure over subsidy was Rs 20,984 crore in 2016-17, which increased by 62 per cent to Rs 33,894 crore, the CAG report said

CAG audit of Noida, Gr Noida authorities to expose skeletons in UP cupboard

CBI is already probing Noida land deals for alleged kickbacks and shady transactions

Variations in losses shown by power ministry: CAG

Expressing concern over implementation of a scheme meant for reducing Aggregate Technical and Commercial losses

No speedy action in Puducherry to implement Energy Conservation Act: CAG

It said shortfalls and delays were noticed in implementation of energy conservation and efficiency schemes

Maharashtra discoms' CAG audit likely to hit legal hurdle

Both the companies do not have government equity unlike Delhi discoms

Maha Govt's move to seek CAG audit of Tata Power, RInfra may be a non-starter

The two utilities don't have government equity unlike Delhi discoms