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Polity & Governance
Mahesh

20/11/22 19:11 PM IST

CAG to audit municipalities in context of 74th constitutional amendment

In News 
  • The Comptroller and Auditor General of India (CAG) has decided to audit the urban local bodies (ULBs) to bring out the performance of these authorities in the context of the 74th constitutional amendment carried out in early 1990s and respective state Acts.
  • 15th Finance Commission has said that State Finance Commissions (SFC) need to play a much more critical role in recommending taxes assigned to municipalities and other local governments. However, barring a few states, SFCs of most states have been rendered ineffective by state governments.
About CAG
  • The Constitution of India provides for an independent office of the Comptroller and Auditor General of India (CAG) in Part V (Article 148 – 151). He is the head of the Indian Audit and Accounts Department.
  • CAG is appointed by the President of India by a warrant under his hand and seal. He holds office for a period of six years or up to the age of 65 years, whichever is earlier.
  • CAG audits the accounts related to all expenditures from the Consolidated Fund of India, the Consolidated Fund of each state and UT having a legislative assembly. He acts as a guide, friend and philosopher of the Public Accounts Committee of the Parliament.
  • He submits 3 audit reports to the President: an audit report on appropriation accounts, an audit report on finance accounts and an audit report on public undertakings.
Source- Business Standard 

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