International BusinessCAG guidance sought for auditing local bodies
The Karnataka government today sought the guidance of the Comptroller and Auditor General (CAG) for auditing accounts of local bodies in the state.
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Chief minister B S Yeddyurappa held a meeting with the CAG, Vinod Rai, and discussed issues related to finance and auditing. “We placed a proposal to assign to the CAG the role of providing technical guidance for the audit of major local bodies like City corporations of the State,” Yeddyurappa said. “In view of the huge capital and revenue expenditure incurred by these bodies, such supervision by the CAG will be very useful,” he told reporters. Noting that the first CAG of India was Narahari Rao from Karnataka, Yeddyurappa sought suggestions on the steps to be taken by the state government during the economic slowdown. Karnataka was the first state to legislate the Fiscal Responsibility Act in 2002 and “we are in revenue surplus from 2004-05 till date”, the chief minister said.
Rai hailed the government for the manner in which it handled the state finances and the rehabilitation work it had taken up in rain-affected districts of North Karnataka.