Indian Stamp Of Comptroller And Auditor General : 2010

The Indian Postal Department released a stamp on “Comptroller and Auditor general of India” on 16th November 2010

Comptroller and Auditor General (CAG) is appointed by the President of India by warrant under his hand and seal and his oath of office requires him to uphold the Constitution of India and laws made there under.CAG holds office for a term of six years from the date on which he assumes such office, provided that where he attains the age of 65 years before the expiry of the said term of six years, he shall vacate such office on the date on which he attains the said age and that he may, at any time, by writing under his hand addressed to the President, resign his office.CAG can be removed from office only on grounds of proven misbehavior or incapacity after an address by both the Houses of Parliament supported by a two thirds majority.Although India has a federal set up, the Constitution provides for a Unitary audit by the Comptroller and Auditor General of India, who conducts audit of the accounts of both the Union and the State Governments.

CAG audits all receipts and expenditure of the Government of India and the state governments,including those of bodies and authorities substantially financed by the government. The CAG is also the external auditor of government-owned companies. The reports of the CAG are taken into consideration by the Public Accounts Committees, which are special committees in the Parliament of India and the state legislatures . The CAG of India is also the head of the Indian Audits and Accounts Service, which has over 58,000 employees across the country.

The current CAG of India is Vinod Rai, who was appointed on 7 January 2008. He is the 11th CAG of India.

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