Latest news with #ComptrollerandAuditorGeneral
Time of India
17 hours ago
- Business
- Time of India
Goa govt loses Rs 107cr as TCP gives free FAR to 321 commercial units
Panaji: Goa has lost Rs 107 crore as the town and country planning (TCP) department gave concessions to commercial establishments by not levying fees for additional floor area ratio (FAR), a Comptroller and Auditor General (CAG) report has said. But the loss shoots up to over Rs 2,000 crore if it is calculated on the rate recommended by the finance department, the audit report said. The TCP department granted 10.7 lakh sqm additional FAR to 321 commercial establishments on their request without levying any fees, while the finance department had directed the TCP to charge Rs 1,000 per sqm on the additional FAR and height granted to the commercial establishments. 'Due to non-levy of any fees while granting additional FAR to the commercial establishments, there was a loss of Rs 107 crore to the state exchequer,' the report said. The audit report also said if the rate, as recommended by the finance department, 'is calculated on the basis of Rs 20,000 per sqm charged for four-star and five-star hotels, which are commercial establishments, then the loss of revenue amounts to Rs 2,147 crore'. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thị trường có dấu hiệu suy thoái không? IC Markets Đăng ký Undo But the ceiling for the grant of additional height and FAR was left open without any limit. In the absence of any provision for levy of fees for the grant of additional FAR and height, the TCP department granted additional FAR to 321 commercial establishments free of cost. A senior audit officer said the TCP department, through a notification on Aug 9, 2023, categorised the FAR. Thereafter, the department amended and inserted a new clause (2) under 6.1.1 of the regulations, whereby it was stated that 'govt, on recommendation of the TCP board, shall grant additional height and FAR to the proposals on a case-to-case basis in consideration of the locational aspect, nature of development, use proposed, information available, and any such other criteria, if required. Such relaxation shall, however, not be relaxed for more than 20% permitted in the prevailing regulations.' But within 12 days, through another notification on Aug 21, 2023, the TCP department deleted the earlier clause: '…such relaxation shall, however, not be relaxed for more than 20% permitted in the prevailing regulations,' thereby not capping the ceiling limit. In 2015, the TCP department through a notification on July 2 had said four-star and five-star hotels may be granted 'an additional FAR of 20% on the recommendation of the committee and on the approval of govt', but on payment of Rs 20,000 per sqm. As the 321 commercial establishments were set up for profit motive, the TCP department should have levied the fees in line with those charged for four- and five-star hotels, the report said. The report also said the rate prescribed by the finance department needs to be reviewed as it was minimal and there was no slab for various categories (individuals, commercial establishments) for the grant of additional FAR and height. The TCP department through the Goa Land Development and Building Construction Regulation, 2010, regulates building construction in Goa. The regulation specifies technical parameters like FAR, height, amenities, water supply, sewerage, and fire safety. The technical parameters differ from zone to zone, as well as the size of the building and plot.
Mint
6 days ago
- Business
- Mint
CAG to deploy AI, machine learning for faster, accurate audits
New Delhi: India's apex auditor will integrate generative AI, machine learning and optical character recognition into its processes to fast-track work and reduce manual burden, according to two deputy heads of the federal auditing body. The Comptroller and Auditor General (CAG) will use these tools for voucher verification and risk detection and will expand remote and hybrid audits in complex revenue areas such as goods and services tax, stamp duty and public works, deputy CAGs A.M. Bajaj and K.S. Subramanian said in an interview. These technologies are expected to significantly reduce manual workload, enhance anomaly detection, and enable predictive identification of high-risk areas, making audits more focused and data-driven, they said. Also read: GDP's dirty little secret: Why we should be tracking GVA instead CAG is reshaping audit practices to match the complexity of India's growing economy and sprawling governance structure. With over 700 central public sector units, 1,600 state enterprises, 485 central autonomous bodies and thousands of panchayats and urban local bodies now under its jurisdiction, the federal auditor is adapting to not just the size, but also the changing nature of public service delivery, they said. The CAG is conducting multi-state audits on key welfare and infrastructure areas, including solid-waste management in urban bodies, welfare of construction workers, management of District Mineral Funds, implementation of rural jobs guarantee programme, functioning of regional transport offices and the Jal Jeevan Mission. All-India audits covering the Green India Mission, Smart Cities, MSME support and skill development are also underway and are expected to be completed by mid-2025. These audits aim to assess how effectively these national initiatives are delivering measurable benefits to citizens and improving their lives. For the first time, the CAG has institutionalized stakeholder consultations at all stages of the audit cycle from planning to reporting, said Bajaj. 'We've made it mandatory to consult the Secretary, senior officials, academia, and civil society while finalising the Annual Audit Plan and audit reports. This inclusive process helps ensure our audits are grounded in real issues and deliver meaningful value to both institutions and citizens," Subramanian added. Also read: You're absolutely right, as the AI chatbot says Dattesh Parulekar, assistant professor of International Relations at Goa University, said, 'The CAG's digital-first and stakeholder-led approach signals a decisive shift from traditional compliance checks to dynamic, technology-enabled, performance-linked audits. If sustained, this could mark a new era in public accountability—where audit reports not only flag inefficiencies but help shape more responsive governance." Focus on training Training remains central to this revamp. The CAG has signed eight memoranda of understanding with institutions such as the Indian Institute of Technology Madras, the Indian Institution of Management Ahmedabad, Bhaskaracharya National Institute for Space Applications and Geo-informatics and the National Institute of Urban Affairs to co-develop specialised curricula. 'For capacity building, we are training audit staff in AI, data analytics, cybersecurity, and public policy at top institutes, including a nationwide boot camp on AI and machine learning for audit at IIT Delhi," said Bajaj. A nine-month AI and cybersecurity diploma programme is already underway at IIT-Madras for CAG officers, with modules on environmental audit, ESG reporting, procurement, and non-cognitive skills running in parallel across various centres, said Subramanian. Also read: Bengaluru shocker: Driver runs away with employer's ₹1.5 crore, spends on family and donates at temples The CAG submits audit reports to the President or governors, which are then tabled in Parliament or state legislatures. These reports have historically played a key role in ensuring financial accountability and transparency in governance, uncovering issues from expenditure irregularities and poor scheme implementation to systemic inefficiencies. These audits have led to policy reforms, public debates, and accountability at the highest levels.
Time of India
13-06-2025
- Automotive
- Time of India
Long-delayed Vikhroli ROB to open today sans fanfare
Mumbai: The much-delayed Vikhroli road over-bridge (ROB), a key east-west connector over the railway tracks, will finally be opened for vehicular traffic on Saturday, following a directive from chief minister Devendra Fadnavis . The Vikhroli ROB, built at an estimated cost of Rs 105 crore, will help motorists save 30 minutes of travel time, said BMC officials. Fadanavis on Friday announced that to avoid inconvenience to Mumbaikars during monsoon, the 615m-long bridge, which connects Lal Bahadur Shastri Marg in Vikhroli West to Eastern Express Highway, will be made operational on Saturday 4pm without a formal inauguration. The work order for the Vikhroli ROB was issued in April 2018. BMC had drawn flak from the Comptroller and Auditor General (CAG), which had cited improper planning, non-preparation of estimates as per site conditions, and non-removal of encroachment for the delay. BMC officials had then attributed the delay in the completion of the project to the acquisition of land, removal of structures and trees, and shifting of utilities. Ganesh Shetty, an activist from Vikhroli who has been pursuing the bridge construction since 2002, said: "The ROB will benefit vehicle users in Ghatkopar, Vikhroli, and Hiranandani Powai, but traffic issues will persist in Vikhroli West, LBS Marg, Tagore Nagar, and Kannamwar Nagar as the internal roads have not been widened." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No Distractions. Just Solitaire Play Solitaire Download Undo The approach roads on both sides of Vikhroli ROB, besides work on sound barriers, anti-crash barriers, painting, and road markings, have all been completed. BMC has also created a traffic bay on the western side. "We have completed all works, including the load tests and issuing of stability certificates for Vikhroli bridge. Besides, signals, cat eyes, and speedbreakers have also been installed. The joint commissioner of police (traffic), who inspected the bridge on Wednesday, issued instructions for the installation of direction boards and gave the go-ahead to open the bridge for vehicles," said a BMC official. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
&w=3840&q=100)
Business Standard
13-06-2025
- Business
- Business Standard
CAG engaging CA firms will not compromise auditor's independence, says ICAI
Chartered accountants' apex body ICAI on Friday said the engagement of CA firms by the Comptroller and Auditor General (CAG) will not compromise the independence of the apex auditor. The comments from ICAI comes in the backdrop of Madurai MP S Venkatesan (CPM) writing a letter to President Droupadi Murmu objecting to the CAG's plan to hire CA firms for auditing of central autonomous bodies will strengthen the auditing process. In a detailed statement, the Institute of Chartered Accountants of India (ICAI) said the engagement of CA firms by the CAG is in no way a compromise of its independence or constitutional function. "... Rather (it is) a strategic step to ensure effective coverage, domain-specific audit quality, and timely audit execution," it said. Further, the statement said, the move is fully supported by professional standards, and ethical safeguards embedded in the ICAI's framework. "Additionally, the scheme is expected to contribute to the organisation's (CAG) capacity building which would be used to augment compliance and performance audits of the autonomous bodies," it added. In the letter to the President on June 3, the MP claimed that the move dilutes the independence of CAG and principles envisaged by the Constitution. On Thursday, Deputy Comptroller and Auditor General (Commercial) Anand Mohan Bajaj said hiring CA firms for auditing of central autonomous bodies will strengthen the auditing process. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
13-06-2025
- Business
- Time of India
CAG engaging CA firms will not compromise auditor's independence, says ICAI
ICAI defended CAG's decision to engage CA firms for auditing central autonomous bodies, asserting it enhances audit quality and efficiency, not compromises independence. This response follows concerns raised by MP S Venkatesan, who alleged the move dilutes CAG's autonomy. ICAI emphasizes the engagement aligns with professional standards and strengthens the auditing process. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Chartered accountants' apex body ICAI on Friday said the engagement of CA firms by the Comptroller and Auditor General (CAG) will not compromise the independence of the apex comments from ICAI comes in the backdrop of Madurai MP S Venkatesan (CPM) writing a letter to President Droupadi Murmu objecting to the CAG's plan to hire CA firms for auditing of central autonomous bodies will strengthen the auditing a detailed statement, the Institute of Chartered Accountants of India (ICAI) said the engagement of CA firms by the CAG is in no way a compromise of its independence or constitutional function."Rather (it is) a strategic step to ensure effective coverage, domain-specific audit quality, and timely audit execution," it the statement said, the move is fully supported by professional standards, and ethical safeguards embedded in the ICAI's framework."Additionally, the scheme is expected to contribute to the organisation's (CAG) capacity building which would be used to augment compliance and performance audits of the autonomous bodies," it the letter to the President on June 3, the MP claimed that the move dilutes the independence of CAG and principles envisaged by the Thursday, Deputy Comptroller and Auditor General (Commercial) Anand Mohan Bajaj said hiring CA firms for auditing of central autonomous bodies will strengthen the auditing process.
