Thursday, September 6, 2012

CAG

The Comptroller and Auditor General (CAG) of India is an authority, established by the Constitution of Indiaunder Chapter V, who audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government. The CAG is also the external auditor of government-owned companies. The reports of the CAG are taken into consideration by the Public Accounts Committees, which are special committees in the Parliament of India and the state legislatures. The CAG is also the head of the Indian Audit and Accounts Department, which has over 58,000 employees across the country.
The CAG is ranked 9th and enjoys the same status as a judge of Supreme Court of India in Indian order of precedence. The current CAG of India isVinod Rai, who was appointed on 7 January 2008. He is the 11th CAG of India.
Recently the CAG under Vinod Rai has constantly been in the limelight for its reports exposing mega corruption, particularly in 2G spectrum scam,CWG scam and Coal mining scam.[3][4]