-HardNewsMedia.com The CAG’s latest performance audit of flood control schemes and flood forecasting shows how little is done to manage flood-induced disasters Of India’s total geographical area of 329 milion hectares, about 45.64 million hectares are stated to be flood-prone, according to estimates in 1980. The Working Group for the Flood Management Programme for the 11th Five Year Plan (December 2006) estimated that, on average, 7.55 million hectares get affected, 1,560 lives...

-The Times of India NEW DELHI: Income tax exemptions worth hundreds of crores have been given to hospitals claiming to be charitable institutes, but they may be doing little or no charity, according to a recent report of the Comptroller and Auditor General. CAG has asked for measurable parameters to assess the extent of charitable activities by hospital trusts availing tax exemptions as the public exchequer could be losing crores without...

-Business Standard Govt told to be consistent on capital infusion criteria The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17. Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the...

-Down to Earth Multiple gaps in implementation of crop insurance schemes may have compromised their purpose of benefitting farmers The CAG audit report of the Centre’s crop insurance schemes has highlighted gaps in their implementation that compromise its purpose of providing financial assistance to farmers. The Comptroller and Auditor General of India (CAG) looked into the performance of two schemes—Modified National Agricultural Insurance Scheme (MNAIS) and the National Crop Insurance Programme (NCIP)...

-PTI New Delhi: The Comptroller & Auditor General of India (CAG) may do a performance audit of the just-ended black money disclosure scheme, but will not get into the disclosures made. As much as Rs 65,250 crore of undeclared assets were declared through 64,275 declarations in the one-time four-month compliance window provided under the Income Disclosure Scheme (IDS), which closed on September 30. ”The information filed under the IDS is confidential and will...