The Indian economy is moving back into the fast lane, with agriculture playing a leading role. A new financial review presented by the government in mid-December anticipated economic growth of up to 9% for the year to March 2011, and forecasters believe double-digit expansion is on the cards for later in the year. "Faster growth is expected to continue as agriculture recovers sharply from last year's drought and inflation starts to...

Between the technical rigour and finality of CAG audit and people's airing of grievances, a new audit system that subscribes to, and strengthens, open government may be waiting to be born. The new system is envisaged as one where the CAG’s formal audit includes the relatively new concept of community-led social audit . The Mahatma Gandhi National Rural Guarantee Act, 2005 (MGNREGA) presents an opportunity to do this. Traditionally, auditing is a...

Following up on his unprecedented offer, Prime Minister Manmohan Singh today wrote to the Public Accounts Committee probing the 2G spectrum allocation scam, expressing his readiness to appear before it. On a day when Comptroller and Auditor General (CAG) Vinod Rai, whose report projecting a presumptive loss of Rs 1.76 lakh crore to the exchequer in 2G spectrum allocation created a storm, appeared before the PAC, Singh made the offer in...

Comptroller and Auditor-General of India Vinod Rai on Monday appeared before the Public Accounts Committee (PAC) to give his views on the 2G spectrum allocation scam. Appearing before the 22-member committee, led by Murli Manohar Joshi, for about five hours, Mr. Rai is understood to have given details of how the CAG reached the figure of “presumptive loss” incurred by the exchequer due to irregularities in grant of licences and 2G...

Amidst a high-pitched BJP campaign for a JPC probe into the 2G spectrum allocation scam, Comptroller and Auditor General (CAG) Vinod Rai is all set to appear before Public Accounts Committee (PAC). PAC is scrutinising the sensational CAG report, claiming massive irregularities in the telecom deal. Rai, according to sources, will depose before the PAC on Monday. Interestingly, PAC chairman Murli Manohar Joshi, a senior BJP leader, has started going about...