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The Latest Breaking News from CAG

CAG report flags fall in Delhi’s contribution to national GDP

A CAG report shows Delhi's GSDP growth was slower than the national economy. Revenue receipts grew, driven by tax collections, while non-tax revenue declined. Government expenditure saw higher revenue spending, limiting capital investment opportunities. Subsidies, especially for power, increased significantly over the decade. Capital expenditure declined, impacting infrastructure and transport…

The Economic Times

CAG flags Rs 42 crore power subsidy to dormant consumers in Delhi, questions targeting of scheme

CAG flagged Delhi government's power subsidy scheme irregularities and questioned beneficiary targeting. Over Rs 42 crore was disbursed to dormant electricity connections with no consumption. The audit covered four financial years from 2019-20 to 2022-23. Subsidy expenditure rose significantly during this period, benefiting many consumers. The report recommended a transparent…

The Economic Times

West Bengal govt failed to protect tribal interests in mining land acquisition, says CAG report

The CAG has flagged the West Bengal government's failure in safeguarding tribal interests. Land acquisition for mining projects resulted in inadequate compensation payments to tribal people. District officials' inaction led to significant shortfalls in rehabilitation and compensation amounts. Companies failed to pay mandatory solatium and additional compensation as required by…

The Economic Times

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High dropouts, teacher crunch and fund gaps cripple Samagra Shiksha in West Bengal: CAG report

A CAG audit has flagged major gaps in the implementation of the Samagra Shiksha scheme in West Bengal, citing high dropout rates, acute teacher shortages and poor fund utilisation. Financial hardship, early marriage and migration emerged as key reasons for students leaving school, while delays in execution affected infrastructure and…

The Economic Times

CAG flags Rs 12.86 crore loss in WBIDC's land deal with Flipkart in West Bengal

A CAG report revealed a Rs 12.86 crore loss for WBIDCL in land allocation, which occurred while allotting land to Flipkart's logistics arm, Instakart Services. The state's nodal agency computed land prices without accounting for water bodies on the site, the CAG found.

The Economic Times

Over half of PM CARES, CSR-funded oxygen plants in Bengal remained non-functional after Covid: CAG

A CAG report found many Covid-era oxygen plants in West Bengal uncommissioned or non-functional. Ventilators and oxygen concentrators also remained idle at two government hospitals. Significant funds allocated for Covid response remained unspent as of March 2022. The report examined infrastructure created during the pandemic for public healthcare. Deficiencies in…

The Economic Times

Bengal govt tables 28 pending CAG reports, accuses TMC of 'constitutional lapse'

West Bengal's BJP government tabled twenty-eight pending CAG reports in the Assembly. The Finance Minister cited a constitutional lapse by the previous TMC government. A special session will convene to discuss the reports' findings and state finances. These reports cover various departments and sectors, detailing financial accounts and audits. The…

The Economic Times

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"Ask DMK why they are doing flip-flop": Congress' Karti Chidambaram on party's stand on delimitation bill

"You have to ask the DMK for its reasons why they are doing a flip-flop. In my opinion, they are being enticed with this One Nation One Election. They are in a little bit of urgency to have another election. But all I can tell you is if the DMK…

The Economic Times

Why Conagra’s Dividend Cut Could Be the Best Thing for Investors

Conagra's dividend cut frees up $335 million annually for debt reduction and brand investment, supporting a turnaround as institutions accumulate shares despite a cautious analyst consensus.

MarketBeat

Conagra Says Rising Beef, Oil and Logistics Costs Will Keep Inflation Elevated

Conagra Brands, Inc. (NYSE:CAG) stock fell in Wednesday’s premarket session after the packaged food maker reported fourth-quarter fiscal 2026 results that beat adjusted earnings estimates but issued weaker-than-expected fiscal 2027 guidance, citing persistent inflation in beef, oil-related inputs and logistics, and cut its quarterly dividend in half.

Benzinga

CAG raps Maharashtra as Rs 82.78 cr helicopter lay idle for 17 months, flags Rs 2 cr avoidable cost

The CAG criticized the Maharashtra government for a significant delay in appointing a maintenance agency. This delay left an expensive helicopter grounded for seventeen months, causing financial loss. The helicopter was purchased for anti-Naxalite operations in the Gadchiroli region. Mandatory maintenance was not performed, requiring costly return-to-service procedures. Inadequate planning…

The Economic Times

CAG flags Rs 3,541 crore excess spend, budgetary lapses in Maharashtra govt's Ladki Bahin scheme

The CAG flagged over Rs 3,500 crore excess expenditure on the Ladki Bahin scheme. Thousands of crores were parked in deposit accounts, indicating financial mismanagement. The Women and Child Development Department lacked justification for the substantial spending increase. This practice undermined legislative control over public finances and budgetary discipline. The…

The Economic Times

A German import wrapped in Desi pride: India’s expensive defiance of medical science

In February this year, a performance audit of Uttar Pradesh’s AYUSH department by the Comptroller and Auditor General (CAG) highlighted that Rs 2,717.79 crore was provisioned for homoeopathy services alone between 2018 and 2023.

Newslaundry

SC halts Delhi government's CAG audit of private discoms

The Supreme Court has put a hold on a CAG audit of three private power discoms in Delhi, a move initiated by the Delhi government concerning a massive Rs 38,500 crore in accumulated regulatory assets. The court questioned the legality of the Delhi Electricity Regulatory Commission's (DERC) decision to appoint…

The Economic Times

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The Economic Times

Delhi govt orders CAG audit of power discoms over regulatory assets issue

Delhi's power discoms are facing a CAG audit following a massive Rs 38,500 crore in accumulated Regulatory Assets. The Delhi government ordered the "strict and intensive" probe into how these assets grew, impacting consumers through surcharges. Power Minister Ashish Sood hailed the audit as a victory for transparency and taxpayers,…

Newslaundry

When research money is scarce, should it fund cow urine papers?

Cow urine can fight off the Chikungunya virus.

Barchart

Conagra Brands' Quarterly Earnings Preview: What You Need to Know

Conagra Brands will release its fourth-quarter earnings next month, and analysts anticipate a double-digit profit dip.

The Economic Times

India, Israel sign MoU to strengthen cooperation in public sector auditing

India's Comptroller and Auditor General and Israel's Supreme Audit Institution have inked an MoU to boost public sector auditing cooperation. The agreement facilitates knowledge exchange, technical expertise, and training. Discussions also explored joint seminars to share innovative practices. The visit underscored a shared commitment to transparency and good governance, with…

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The Economic Times

CAG, Israel's apex audit body ink info exchange pact

India's CAG and Israel's State Comptroller have inked a pact to boost public sector auditing through knowledge sharing and best practices. This Memorandum of Understanding aims to enhance collaboration, capacity building, and expertise exchange between the two nations' audit institutions.

Barchart

Is Conagra Brands Stock Underperforming the Dow?

As Conagra Brands has lagged behind the Dow over the past year, analysts remain cautious about the stock’s prospects.

The Economic Times

States' expenditure rises 131% in 10 yrs on welfare, development: CAG Report

States' spending surged 131 percent from 2015-16 to 2024-25. Welfare and development drove this growth. Revenue expenditure remained the largest budget component. Committed expenses and subsidies consumed over half of revenue spending. Total state expenditure reached Rs 51.20 lakh crore in 2024-25. Budgetary spending averaged between 15.78 and 17.49 percent…

The Economic Times

UP, Gujarat, Jharkhand, 10 other states record revenue surplus in FY25: CAG report

Fifteen Indian states faced revenue deficits in the fiscal year 2024-25. Thirteen states, however, reported revenue surpluses. The Comptroller and Auditor General's report highlights these financial outcomes. States' own tax revenues are growing, forming a significant part of total receipts. Committed expenditures like salaries and pensions remain a major cost…

The Economic Times

Fiscal stress deepens across states as all 28 post deficits in FY25: CAG report

India's states continued to face mounting fiscal pressures in 2024-25, with all 28 states reporting fiscal deficits and their combined liabilities rising to Rs 90.51 lakh crore as of March 31, 2025, according to the Comptroller and Auditor General's (CAG) report State Finances 2024-25 released on Monday.

The Economic Times

CAG flags shortcomings at Social Audit Unit of Assam; suggests corrective measures

Assam's Social Audit Unit is struggling with significant operational and governance issues. A CAG report reveals its registration expired for nearly five years. Manpower shortages and a lack of a firm manpower policy impact audit targets. The unit also lacks a Code of Ethics. Follow-up on audit reports is weak,…

Barchart

Spend $75 or Less to Make Contrarian Bets on These 3 Hard-Hit Value Stocks

The new 52-week highs on the NYSE exceeded the lows by 2.4 times yesterday, while the Nasdaq’s new highs were 2.9 times the lows. Value investors should check out these three new lows.

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