COMPTROLLER
AND AUDITOR GENERAL OF INDIA - POLITY
News: Modi govt. has broken all graft
records: AAP chief on CAG report
What's
in the news?
● Kejriwal
blames Centre for cost escalation in construction of the 29.06 km Dwarka
Expressway from ₹18 crore per km to ₹250 crore per km.
Comptroller
and Auditor General of India:
● The
Comptroller and Auditor General of India (CAG) is the supreme audit institution of India.
● It
is an independent body that audits the accounts of the Government and its
agencies.
● The
Comptroller and Auditor General of India ensure
accountability through audit reports.
● The
Comptroller and Auditor General of India controls
the issue of money from the consolidated fund of India and is responsible for
its auditing.
Constitutional
Body:
● CAG
is a constitutional body that is created under the constitutional provision
mentioned under Article 148-151 under
Part V of the Indian Constitution.
● He/she
controls the entire financial system of the centre and state.
Appointment
and term of CAG:
● The
president makes the appointment of
the Comptroller and Auditor General of India.
● He
holds the office for a period of six
years or up to 65 years, whichever is earlier.
Removal:
● The
president can carry out the process
of removal of CAG.
● The
removal of the CAG requires the assent of the bill with the special majority on
the grounds of proven misbehaviour and incapacity.
Functions
of Comptroller and Auditor General of India:
● The
CAG handles the auditing of accounts of the Government of India and its
agencies.
● This
includes auditing the receipts and expenditures of the government. It also
looks into the assets and liabilities of
the government.
● The
CAG prepares the accounts of the Government of India and its agencies. These
accounts are submitted to the Parliament and to the state legislatures.
● The
CAG has the authority to inquire into
any irregularities in the accounts of the government. This may include
irregularities in the following:
○ Collection
of revenue
○ Expenditure
of funds
○ Management
of assets.
● The
CAG has to report on its findings to the Parliament of India and to the state
legislatures.
● The
CAG's reports are also made public.
● The
CAG is required to advise the government on matters relating to public finance.
It can advise the government on how to improve the efficiency and effectiveness
of its financial management.