-The Indian Express Chit fund scams shine the light on the need to overhaul the financial regulatory architecture Cases of semi-regulated or unregulated entities making unrealistic promises to consumers are roiling the financial landscape. It is high time the government sees the pattern and undertakes fundamental change. The search for a solution must factor in two realities. The first is the failure of the formal regulated financial system. The breakdown of present...
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CACP answer to CAG’s ire on MGNREGA: Invest more in agriculture
-The Financial Express Seven years after MGNREGA came into being, the CAG report tabled on Tuesday in Parliament paints a dismal picture of the UPA's flagship rural employment guarantee programme. According to the CAG, while employment generation fell from 54 days per household in FY10 to 43 days in FY12, states that account for 46% of the rural poor - Bihar, Maharashtra and UP - utilised only a fifth of the...
More »Irregularities in implementation of national rural employment scheme: CAG audit report -Swati Mathur
-The Times of India LUCKNOW: The Comptroller and Auditor General of India tabled the second performance audit of the Mahatma Gandhi National Rural Employment Guarantee Act in Parliament on Tuesday. The first performance audit was undertaken in 2007-08. The period of coverage of the first audit was February 2006 to March 2007. The present performance audit of the implementation of MGNREGA was taken up in response to a request from the ministry...
More »UPA's flagship employment scheme draws flak from CAG
-PTI Implementation of government's flagship scheme MNREGA has come under flak from CAG on various counts, including diversion of funds and impermissible works undertaken to the tune of about Rs 2,252 crore. The audit undertaken by the Comptroller and Auditor General of the programme launched by the Rural Development Ministry in 2006 found that works amounting to around Rs 4,070 crore were incomplete even after one to five years of launching. The CAG...
More »Government auditor's (CAG) report says funds bungled in flagship rural employment scheme-Shamik Ghosh
-NDTV Employment under the Mahatma Gandhi National Rural Employment Guarantee Act or MNREGA has declined, while Rs. 128 crore have been misused and work worth a staggering Rs. 4000 crore is incomplete, the government's auditor has alleged in its review of the rural job scheme that the Congress-led UPA government counts as one of its most significant achievements in the last nine years of rule at the Centre. In its report...
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