State oil firms are under the scanner of the Comptroller & Auditor General of India for supplying diesel at a discount to defense establishments and Indian Railways and claim compensation on the revenue loss from upstream companies and the government. Executives in state-run Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum have accepted that they offer small discounts to these customers and denied recovering any part of the amount from the...

Rural development minister Jairam Ramesh has proposed social audits for the centre's big-ticket welfare programmes running under different ministries, on the lines of the scrutiny that he recently mandated for the flagship rural jobs scheme. "The concept has the potential to revolutionise the system. If we can have social audits for three-four major social sector schemes, it will change the way the country functions," Ramesh said. If the proposal is...

Opposes changes in bid norms, extra land acquisition and move to allow bidders to develop more than one UMPP The government’s auditor has come down hard on irregularities in the government’s policy on so-called ultra mega power projects, or UMPPs. The report of the Comptroller and Auditor General of India (CAG), parts of which have been seen by Mint, is with the power ministry for its comment, and could cause further embarrassment...

-The Hindu   “In a world of growing complexities and uncertainties, not every decision by the government is likely to be the most optimal. The possibility of institutional failures, oversight and ignorance impacting the decision-making process cannot be ruled out,” said Finance Minister Pranab Mukherjee. He was addressing a concluding function here on Wednesday to mark the celebration of 150 years of the Comptroller and Auditor-General of India (CAG). Mr. Mukherjee pointed out that...

The parliamentary panel examining the Lokpal bill is learnt to have formulated a five-stage mechanism that separates investigation from prosecution, and maintains “equilibrium in the holy trinity” of CBI, CVC and the proposed Lokpal. On the question of whether to include the prime minister in the Lokpal’s purview, opinion in the standing committee, sources said, has narrowed to two points of view: keeping the PM out and, including the PM with...