-The Hindu The postponement conveyed by Petroleum Ministry to CAG on October 29 Only days after the change of guard in the Petroleum and Natural Gas Ministry, the “Entry Conference” by the Comptroller and Auditor General (CAG) with the Petroleum Ministry officials and representatives of Mukesh Ambani-owned Reliance Industries Limited (RIL) to discuss details of the financial audit of KG D6 accounts has been postponed indefinitely. Sources in the Ministry said that after...
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Officials who fail to take decisions on spending Plan funds should be penalised
-The Economic Times The trend in Plan spending so far is disheartening. Actual expenditure during the first five months of the current fiscal year amounted to about 28% of the budgeted spending of Rs 5,21,025 crore for this fiscal - the lowest proportion recorded over the last five years. Ministries and departments are said to be willing to surrender unspent money, rather than take decisions that they fear could be questioned by...
More »70,000-crore scam: Gadkari justifies letter lobbying for controversial dam, contractors -Sabyasachi Dasgupta
-NDTV A letter written by BJP president Nitin Gadkari lobbying for contractors building a mega-dam project in Maharashtra has the Congress demanding his resignation, and the BJP on the defensive. Written on July 30 to Water Resources Minister Pawan Kumar Bansal, Mr Gadkari asks for Rs. 400 crores to be released to the contractors hired for the Gosikhurd dam in Vidarbha. The main contractor is Ajay Sancheti, a BJP member of the...
More »Flunking Atomic Audits-MV Ramana
-Economic and Political Weekly The recent Comptroller and Auditor General's report on the Atomic Energy Regulatory Board and, more broadly, on nuclear safety regulation has highlighted many serious organisational and operational flaws. The report follows on a series of earlier CAG reports that documented cost and time overruns and poor performance at a number of nuclear facilities in the country. On the whole, the CAG reports offer a powerful indictment of...
More »Kelkar for hike in PDS price -Ashok Dasgupta
-The Hindu In its report on the road map to fiscal consolidation, the three-member committee headed by the former Finance Secretary and 13th Finance Commission Chairman, Vijay L. Kelkar, has suggested a host of “bold reform” measures on ways of slashing the subsidy bill which, it admitted, would result in some short term pain and hardships. The committee’s recommendations also include sale of surplus land with public sector undertakings (PSUs), fast-tracking of...
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