Celebration of First Audit Diwas
Prime Minister, Narendra Modi, is set to address the event of first Audit Diwas on November 16, 2021.
Highlights
- The event will be held at CAG office premises.
- On the occasion, PM will also unveil the statue of Sardar Vallabhbhai Patel.
What is Audit Diwas?
First edition of the Audit Diwas will be celebrated to mark the historic origins of the institution of CAG and the contribution made by it to the governance, transparency and accountability.
Comptroller and Auditor General of India (CAG)
CAG is the Constitutional Authority in India. It was established in accordance with Article 148 of the Constitution of India. CAG is empowered to Audit all receipts and expenditure of the central as well as state governments. The CAG is the statutory auditor of Government-owned corporations. It conducts supplementary audit of government companies, where Government is having an equity share of 51 per cent.
Reports of CAG
Reports of the CAG are laid before Parliament or Legislatures. They are being taken up for discussion by Public Accounts Committees (PACs) and Committees on Public Undertakings (COPUs). PACs and COPUs are special committees in the Parliament and state legislatures.
Order of precedence
The CAG has been ranked at 9th place in the order of precedence. It enjoys same status as the sitting judge of Supreme Court.
Who is the current CAG?
Currently, former Lt. Governor of UT of Jammu Kashmir G. C. Murmu is serving as CAG of India. He is the 14th CAG of India. His tenure started in August 2020.
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Month: Current Affairs - November, 2021