CAG dates back more than 150 years (To go with: Vinod Rai made audit office a potent people’s watchdog)

The Comptroller and Auditor General (CAG) is a 153-year-old institution, dating back to 1860. Vinod Rai, who demits office Wednesday, is independent India’s 11th CAG.

CAG conducts three kinds of audits – financial, compliance and performance. Officials said the finance ministry had in 2006 noted that performance audit was within the scope of CAG and he should have access to records.

Officials said CAG produces about 125 audit reports in a year including those related to state governments.

Some of the widely noticed CAG reports during Rai’s tenure:

– Allocation of coal blocks and augmentation of coal production

– Ultra mega power projects under special purpose vehicles

– Implementation of public-private partnership Indira Gandhi International Airport, Delhi;

– Commonwealth Games 2010

– Issue of licences and allocation of 2G spectrum

– Hydrocarbon production sharing contracts

– Fertiliser subsidy.

Other audit reports that have been widely reported include implementation of agricultural debt waiver and debt relief scheme and Adarsh Cooperative Housing Society, Mumbai.

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