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India's April-June Fiscal Deficit At Rs 4.50 Lakh Crore, Touches 25.3% Of FY 2023-24 Target

The government's fiscal deficit for the first 3 months i.e April-June quarter of 2023-24 stood at Rs 4.51 lakh crore, or 25.3% of the annual target of Rs 17.87 lakh crore, according to data issued by the Controller General of Accounts ...

Service Tax Arrears Triple To Rs 71K Crore In 2 Years

Service tax arrears more than tripled to Rs 71,257 crore in 2014-15 within a couple of years, apex auditor CAG said, expressing concern that the recovery is not being given due importance. The arrears of service tax were at Rs 22,014 ...

CAG flays govt's fuel pricing policy

The CAG castigated government's fuel pricing policy saying it gave undue benefit of Rs 667 crore to Essar Oil and Reliance Industries, and called for renegotiating rates at which diesel is bought from private refiners. State-owned fuel retailers buy diesel ...

CAG flays Finance Ministry for not adopting rational method for forecast

NEW DELHI: Government's auditor CAG has criticised the Finance Ministry for continuously making "optimistic projections" on revenue collection in budget presentation even as actual collection was short of estimates year after year. "Fluctuating gap between revised estimates/budget estimates suggest that ...

Ministry of Civil Aviation refutes loss figures in CAG report

Ministry of Civil Aviation strongly refutes the loss figures and other allegations as made in the report and said that calculation of presumptive gain from the commercial use of land at the Delhi Airport is totally erroneous and misleading as it ...

Reliance Industries defends itself in the wake of CAG report

Reliance Industries has issued a statement defending itself agaist the final report of the Comptroller and Auditor General of India (CAG), that was tabled on Thursday, September 8, 2011. It said that though the company, Reliance Industries, has not seen the ...

CAG report indicts DGH and RIL

The Comptroller and Auditor General of India's report on KG-D6 gas fields expenditure was tabled in the parliament. According to the report the company has violated the production sharing pact (PSC) on KG D6 block. The report also stated that ...

CAG refutes charges that it didn't allow operators to respond

The Comptroller and Auditor-General refuted the charge leveled at it that it didn't allow the private operator to give clarification before finalizing the draft performance audit report on oil and gas production sharing contracts. The CAG said that all parties were ...

CAG: Reliance increased the capex cost

Reliance Industries production cost increased by $3 billion for its Andhra Offshore gas fields. This was found on comparison between the cost of major elements that the company's initial and revised estimates showcases, according to reports by a section of the ...

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