CAG to start natural resources accounting soon
Girish Chandra Murmu, the Comptroller & Auditor General of India (CAG) said that tighter scrutiny and accounting of mineral and energy resources in India will be conducted by the CAG. They will conduct natural resources accounting (NRA) for the same.
He was speaking at the inauguration ceremony of the new office building for the Principal Accountant General (Audit) on Monday.
Murmu said the nation is looking forward to Sustainable Development Goals (SDGs) to make life better for future generations.
“We have started natural resource accounting because prudential optimization of all the resources is now required versus the development,” he said.
“Now, successive Finance Commissioners have allotted huge chunks of money and all the centrally sponsored schemes are implemented through the local bodies. So the accounting of each penny has to be there. It is not only from our auditor point of view but is from the government’s point of view that it has to be accounted for on a real-time basis,” he pointed out.
Development is required at the same time the natural resources should be very prudently used and the trade-off should be a win-win situation, he said, adding the NRA would improve the accountability of the executives.
Currently, states are conducting audits of the local bodies. The CAG will extend all cooperation to them as a result of which real-time audit of local bodies will be possible, he explained.
Murmu said that to facilitate the process, the CAG is trying to integrate FMS, IFMS, Priya Soft, and others so that the money flow is seen there.
He further expressed that the main aim of the organization is to improve the management of the auditee establishments and to suggest value addition to the performance of the organization in the delivery of services.
[With Inputs from IANS]
PGurus is now on Telegram. Click here to join our channel and stay updated with all the latest news and views
For all the latest updates, download PGurus App.
- Meta freezes hirings, more layoffs on cards, says Mark Zuckerberg to employees - September 30, 2022
- RBI hikes repo rate to subdue the inflation; pegs inflation at 6.7% & eco growth at 7% - September 30, 2022
- Google announces to shut cloud gaming service Stadia on Jan 18, 2023 - September 30, 2022