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CAG is hiring more than 10,000 accountants and auditors around the country

<ul><li>The decision came exactly a year after the Central government reorganised Jammu and Kashmir, bifurcating it into two <keyword id="390245" type="COMPANY" weightage="20" keywordseo="Union-Territories">Union Territories</keyword> of Jammu and Kashmir, and Ladakh.</li><li>Official sources told IANS that <keyword id="782539" type="PERSON" weightage="20" keywordseo="Murmu">Murmu</keyword> has resigned as the Lt Governor even though there was no confirmation about who his replacement will be in the highly sensitive Union Territory of Jammu and Kashmir. </li><li>Murmu will be replacing <keyword id="1928895" type="PERSON" weightage="20" keywordseo="Rajiv-Mehrishi">Rajiv Mehrishi</keyword>, a 1978 <keyword id="173528" type="POSITION" weightage="20" keywordseo="batch-IAS-officer">batch IAS officer</keyword> of the Rajasthan cadre, as the CAG. </li></ul>Jammu and Kashmir Lt Governor Girish Chandra Murmu has been appointed as the new Comptroller and Auditor General (CAG) of India. The decision came exactly a year after the Central government reorganised Jammu and Kashmir, bifurcating it into two Union Territories of Jammu and Kashmir, and Ladakh. Official sources told IANS that Murmu has resigned as the Lt Governor even though there was no confirmation about who his replacement will be in the highly sensitive Union Territory of Jammu and Kashmir. Murmu will be replacing Rajiv Mehrishi, a 1978 batch IAS officer of the Rajasthan cadre, as the CAG. A 1985 batch IAS officer of the Gujarat cadre, Murmu was Principal Secretary to Narendra Modi when he was Chief Minister of Gujarat. He became the first Lt Governor of the Union Territory of Jammu &amp; Kashmir. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-beirut-explosion-created-a-huge-mushroom-cloud-and-visible-blast-wave-but-nuclear-weapons-experts-say-it-wasnt-an-atomic-blast-heres-why-/articleshow/77362144.cms">The Beirut explosion created a huge mushroom cloud and visible blast wave, but nuclear weapons experts say it wasn't an atomic bomb. Here's why.</a> <a href="https://www.businessinsider.in/business/startups/news/microsoft-for-startups-lathika-pai-says-entrepreneurs-pitching-for-investments-need-to-have-this-one-question-answered-in-their-pitch-decks/articleshow/77352935.cms">Microsoft for Startups’ Lathika Pai says entrepreneurs pitching for investments need to have this one question answered in their pitch decks</a> <a href="https://www.businessinsider.in/careers/news/linkedin-tcs-disney-hotstar-zee-and-other-companies-hiring-right-now-in-india/slidelist/77352775.cms">LinkedIn, TCS, Disney+ Hotstar, Zee and other companies hiring right now in India</a>

​​Jammu and Kashmir Lt Governor Girish Chandra Murmu appointed as the new Comptroller and Auditor General (CAG) of India.

India’s Comptroller and Auditor General (<keyword id="6356851" type="ORGANIZATION" weightage="20" keywordseo="cag">CAG</keyword>), <keyword id="1928895" type="PERSON" weightage="20" keywordseo="Rajiv-Mehrishi">Rajiv Mehrishi</keyword>, today gave Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> his biggest win in the ongoing controversy over the government’s deal to by 36 <keyword id="6381048" type="UNKNOWN" weightage="20" keywordseo="rafale">Rafale</keyword> jets from the French company Dassault. Modi government’s deal was 2.86% cheaper than that planned by the earlier Congress regime, the report said. However, Modi’s rivals have questioned the credibility of Mehrishi while escalating their attack on the government alleging corruption in a crucial defence deal. The Congress has alleged that Mehrishi was privy to the internal negotiations in the Rafale deal and therefore he cannot be an independent auditor. Over the course of his career, Mehrishi has essayed a number of prominent roles both at the state and national level, cementing his credentials as an insider in the Modi administration. Mehrishi entered civil services in 1978 from the Rajasthan cadre. November 2009 - April 2012: Mehrishi was an additional secretary in the Ministry of Agriculture. He was specifically tasked with spearheading research and education initiatives. October 2012- November 2013: He was a secretary in the Ministry of External Affairs under the previous Congress government. December 2013: He was moved to Rajasthan as the chief secretary in the BJP government led by Vasundhara <keyword id="51253" type="ORGANIZATION" weightage="20" keywordseo="RAJE">Raje</keyword>. This was the last role he held as an IAS Officer prior to his retirement after a 30-year career. As chief secretary, he played a big role in Raje’s labour and land reforms. This involved an easing of hiring norms, especially for apprenticeships, and the expansion of an industrial belt from Gurgaon to Jaipur. The same reforms were championed by Finance Minister <a href="https://economictimes.indiatimes.com/news/economy/policy/rajasthan-pioneer-state-in-implementing-labour-reforms-arun-jaitley/articleshow/49848504.cms">Arun Jaitley</a>, who made them a big part of the BJP government’s Ease of Doing Business Agenda a few years ago. However, it has been speculated that some of these policies eventually <a href="https://thewire.in/politics/vasundhara-raje-rajasthan-elections"></a><a href="https://thewire.in/politics/vasundhara-raje-rajasthan-elections" data-type="tilCustomLink">cost Raje the state elections</a>t Raje the state elections in December last year. However, within three months after Narendra Modi came to power in May 2014, Mehrishi was called on to serve in the central bureaucracy. October 2014- August 2015: Mehrishi was the secretary of the finance ministry, charged with economic affairs. His work as a government auditor now has also drawn criticism because of his tenure at the finance ministry. The question raised by the opposition is that whether someone who has been an integral part of spending decisions in the past should be allowed to audit the same decisions. However, the Modi government has dismissed the allegations saying that his responsibilities had<a href="http://pib.nic.in/newsite/PrintRelease.aspx?relid=188381"> nothing to do with government expenditure decisions</a>. September 2015: Mehrishi was accused of <a href="https://www.indiatoday.in/mail-today/story/probe-against-the-union-home-secretary-did-he-wrongly-avoided-tax-as-finance-secretary-263226-2015-09-16">evading taxes </a>on a land deal. Mehrishi reportedly saved ₹10 million of capital gains tax by claiming that a piece of land sold in a commercial transaction was actually an agricultural plot, which qualifies for different tax treatment. The plot had been as agricultural land in 2006 but sold as commercial land (without <a href="https://www.newslaundry.com/2019/01/24/did-cag-rajiv-mehrishi-evade-tax-or-not">the requisite payment of fees</a> for the change in title) to benefit from a higher selling price. The allegations, which analysed by <a href="https://www.newslaundry.com/2019/01/24/did-cag-rajiv-mehrishi-evade-tax-or-not">Newslaundry </a>earlier this year, did not lead to any action against Mehrishi. August 2015- August 2017: Mehrishi served as the secretary of the Home Ministry for the current government. As home secretary, he notably called out Pakistan as a safe haven for terrorists and criminals on the run like <a href="https://www.financialexpress.com/india-news/dawood-ibrahim-being-sheltered-by-pakistan-says-home-secretary-rajiv-mehrishi/833316/">Dawood Ibrahim.</a> This was also the time when the <a href="https://www.livemint.com/Politics/3GJ0xAYec7sn0hjjRFNrPO/A-year-after-Burhan-Wanis-death-big-change-in-antiterror.html">political crisis </a>in Kashmir escalated. The central government was blamed for using excessive force against rebel groups, and often civilians too found themselves in the firing line. Despite the Home Minister Rajnath Singh’s attempt to salvage BJP’s position in Jammu and Kashmir, its local ally the People’s Democratic Party (PDP) snapped ties <a href="https://economictimes.indiatimes.com/news/politics-and-nation/bjp-ends-alliance-with-pdp-in-jammu-and-kashmir-presidents-rule-likely-in-the-state/articleshow/64646710.cms">in June 2018</a> as the crisis unraveled. The first allegation against the current government in the controversial deal to buy Rafale jets emerged in November 2016. Mehrishi was appointed as the CAG in September 2017, while the audit of the deal began a few months later in 2018.

The man who audited the Rafale deal is now the subject of the controversy

The Comptroller and Auditor General of India (<a href="http://www.businessinsider.in/searchresult.cms?query=CAG">CAG</a>) has lashed out to <a href="http://www.businessinsider.in/searchresult.cms?query=ONGC">ONGC</a> for their hiring and use of drilling rigs that resulted in a whopping loss of Rs. 7,995 Crores. 
 
In a report presented in the Parliament today, <a href="http://www.businessinsider.in/searchresult.cms?query=CAG">CAG</a> said the state-owned firm didn’t do enough homework while preparing the annual rig requirement plan (RRP), delayed many rig acquisitions and hiring, deployed manpower unevenly and had inefficient repair and refurbishment policy. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=ONGC">ONGC</a>'s non-productive time was between 19 and 23% over 2010-14. "The bulk of idling time costing Rs 6,418 crore was due to factors which could have been controlled by the company," <a href="http://www.businessinsider.in/searchresult.cms?query=CAG">CAG </a>said. 
 
The company also didn’t adhere to safety procedures and continued to do drilling/testing operations even after one anchor of its rig Sagar Vijay had snapped. 
 "The insurer did not honour the claim of <keyword id="6354737" type="CITY" weightage="80" keywordseo="ONGC">ONGC</keyword> on the ground that the latter had not followed recognized safe operating practice," the report said. 
 
The oil company didn’t follow repair schedule either. Major lay-up repairs that were held up affected the machines’ efficiency. 
 
Image credit: Indiatimes

CAG thrashes ONGC over Rs 8k Crores loss

<ul><li>The company said that it was scaling down its employee size in India, as there has been no intimation from the government regarding a possible solution to the ban. </li><li><keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword> was banned in late June by the Indian government in the middle of rising tensions at the India-China border.</li><li>Even with all the ups and downs in its businesses across the globe, <keyword id="3749909" type="PERSON" weightage="20" keywordseo="Bytedance">Bytedance</keyword> has reportedly raked in $37 billion in revenue in 2020, including $7 billion in profit.</li></ul>Chinese giant ByteDance has fired hundreds of employees in India, as the ban on Chinese apps including the company’s popular app TikTok remains banned in the country. In an email to its employees on Wednesday morning, the company said that it was scaling down its employee size in India, as there has been no intimation from the government regarding a possible solution to the ban. “We initially hoped that this situation would be short-lived, and that we would be able to resolve this quickly. Seven months later, we find that has not been the case. Many of you have patiently waited to hear how this would play out, which has been very stressful. Thank you for your continued belief and trust in us,” wrote TikTok CEO Vanessa Pappas and VP of Global Business Blake Chandlee in an email to India employees today, as reported by <a href="https://techcrunch.com/2021/01/26/bytedance-to-cut-jobs-in-india-amid-tiktok-ban/">TechCrunch</a>. TikTok was banned in late June by the Indian government, as were 58 other Chinese apps in the middle of rising tensions at the India-China border. Soon after, over hundred other Chinese apps were banned in the country over privacy and data concerns. “We have worked steadfastly to comply with the Government of India order issued on June 29, 2020. We continually strive to make our apps comply with local laws and regulations and do our best to address any concerns they have. It is therefore disappointing that in the ensuing seven months, despite our efforts we have not been given a clear direction on how and when our apps could be reinstated. It is deeply regretful that after supporting our 2000+ employees in India for more than half a year, we have no choice but to scale back the size of our workforce. We look forward to receiving the opportunity to relaunch TikTok and support the hundreds of millions of users, artists, story-tellers, educators and performers in India," said a TikTok spokesperson. Not just in India, TikTok saw complications in its business in India as former US President Donald Trump threatened to ban the app unless the company sold off its business to an American company – which it was eventually to Walmart and Oracle. However, even with all the ups and downs in its businesses across the globe, Bytedance has <a href="https://www.techinasia.com/bytedances-revenue-doubled-37b-2020-sources">reportedly</a> raked in $37 billion in revenue in 2020, including $7 billion in profit. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/old-vehicle-owners-may-have-to-pay-up-to-3800-per-year-as-green-tax/articleshow/80473971.cms">Old vehicle owners may have to pay up to ₹3,800 per year as ‘Green tax’</a> <a href="https://www.businessinsider.in/careers/news/cag-is-hiring-more-than-10000-accountants-and-auditors-around-the-country/articleshow/80476566.cms">CAG is hiring more than 10,000 accountants and auditors around the country</a>

After firing hundreds of employees, Tiktok says it hopes to relaunch in India soon

Globally renowned economist <keyword id="6358908" type="PERSON" weightage="20" keywordseo="raghuram-rajan">Raghuram Rajan</keyword>’s latest lecture at the Brown University is being used by the opposition in India to slam the government for its majoritarian approach while the supporters of the Narendra Modi administration are trolling the former governor of the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) for an alleged political attack on the government. The fact of the matter is Rajan pointed out both the flaws and positives of the Modi regime in India and shared some ideas on how the currently sagging economy can be revived and put back on a high-growth path. “Let us not dismiss some of the good things that the Modi government did…. Consumption growth supported by borrowings and transfers as well as the household measures like the free cooking gas, really gave the people a sense that they were better off; despite the fact, unlike NDA-I, there were few deep reforms that liberalised growth and markets,” Rajan said in his lecture on October 12. “But what the Modi administration did in economic performance, it is not sustainable. And therefore, unless it changes we’re going to have problems down the line,” he added. So what is it that the government can do to improve India’s economic growth. Here’s Rajan’s “wishlist”, as he called them, in his own words. <ol><li>We need to further move to de-politicise appointments of leadership at democractic institutions and reduce interference/intervention in their functioning. There is no more important institution than the Supreme Court but also investigative agencies like the CBI, CAG, CVC, CIC including the vice chancellors of different universities.Universities are an important source of independent ideas and to politicise appointments there is to reduce the flow of ideas to what is more politically convenient. </li><li>There is a need to go back to the path devolving funding from the Centre to the states but also from the states to the local bodies. The states have also been remiss in pushing funding to the local bodies. It is important that we not only devolve funding but also devolve powers. It will allow the people to hold the government accountable. The more localised it is, the more we can see what the government is doing and can object. Local police paid by local funds will be much more sensitive to local needs than for example the local police that is employed by the state and responds to commands from the state capital rather than the locals. </li><li>There is no point in offering more stimulus in the economy if the stressed sectors-- real estate, construction, banking, non-banking financial firms-- hold back any possible economic growth. There is a need, in such stress situations, for the government to come in through the regulator, look through the balance sheets of these companies, figure out which ones can be saved and which one cannot be, and figure out a way for the ones that cannot be saved to be put them in some form of receivership so that they don’t serve as an overhang in the market. This is the classic game plan for distressed situations even if it involves private sector firms so long as these can be systemic. Given that non-banking financial firms are 17% of the economy, you can’t avoid doing this. If you keep avoiding it, eventually the problems will spread more widely. Unless the government is completely sure that each one of these stressed companies is isolated from the rest of the system, it is extremely important that you do that ‘search and rescue’. Providing <keyword id="6355375" type="DEFINITION" weightage="20" keywordseo="Liquidity">liquidity</keyword> is not enough. Release the stressed assets, like unsold apartments for example, into the market at a reasonable pace. Some of the decisions are going to be arbitrary, some of them are going to be the source for future governments to accuse you of shenanigans and investigate the process and send the CBI etc after you. But this is governance, and it is about taking hard decisions. You can make it as transparent as you can. </li><li>Improve the functioning of the factor markets -- land, labour, finance, regulations. India has workers who you can hire and fire at any time -- they have no rights whatsoever -- and those permanent labour who have all the rights and you can’t fire them. We have both those and nothing in the middle. India would be better off if it would ‘grandfather’ those guys who have permanent jobs, but find a way to move the guys with temporary jobs, contractual jobs to more security by giving them multi-year contracts and building up their stake in the firm by, for example, increasing severance pay over time. There are things you can do to improve labour markets even while adding more flexibility-- things that would improve job security. Not everyone will have a permanent job but it would give people much better than what they have today, which is really contractual uncertainty. One of the biggest stumbling blocks in India is acquiring land. We are a democracy and we need to acquire it in a fair way, which gives the person who sells the land substantial revenues in the future e.g. land sharing agreements. Take 5 acres, develop all 5 and give back 2 acres to the farmer or whoever you have taken it from. Many of these work but we need to find the best practices here and not get stuck in an equilibrium where we can’t buy the land-- the land that the farmer actually wants to sell. But we can’t buy it because we can’t agree on a price that is reasonable and not subject to political intervention later. </li><li>Prune some regulations while improving others. There are some areas where we are under regulated. If you see the way houses are built in hill stations, we will know that whatever zoning laws we have don’t seem to function there. </li><li>Reduce the public sector presence. Part of the reason why governments in India have so much power is because they control financing. 70% of the banking system is in the hands of the government, there are also a number of state-owned companies, the Life Insurance Corporation is under the thumb of the government. When you have so many ways to favour some and dis-favouring others, it is a temptation for any government. It is a source which can affect people’s actions.We need to reduce this as it will make India far more democratic and also far more amenable to growth. </li><li>Keep tariffs relatively low, keep them relatively predictable, that will bring more foreign direct investment. We need to focus on making India more export competitive but we can focus not just on manufacturing but non-traditional exports like education. Improving our educational institutions and getting students from the rest of the world would be a way of exporting. Similarly, healthcare. We can provide doctors to the rest of the world. Why not export Indian services by getting patients to come to India. That means make their experience much easier. Tourism is, of course, a big service factor. Even for manufacturing exports, we need a more transparent, institutionalised process for changing regulations and tariffs on investors. Today, it’s on a whim and can be changed overnight. This was a complaint that Amazon and Walmart had. They thought they were buying into a particular regime and started investing on that basis and the rules changed on them overnight. We need a more transparent process for this. If we move towards a government with more checks and balances and a more market-driven economy, not only will the private sector become more efficient and independent, it will become a more of a check on the government, like in this country (US). I am not saying that the private sector in this country (US) is perfect. I am just saying, in industrial countries there is a power that is independent of the government, that is the private sector and that is a good thing. Without stronger growth, distributive policies, which have been quite effective, will overwhelm revenues, driving the economy into a hard corner. </li><li>Ignore fiscal deficit at your own peril. There is sometimes a sense in India that fiscal deficit doesn’t matter-- let’s spend more. That would be disastrous. One of the things that India has done well over the last few decades has been to run a reasonably tight ship. There have been populist pressures but we have reversed them in times of trouble. For example, the efforts taken in 2012 to reduce spending and deficits protected the Indian economy during the ‘taper tantrum’ by the US in 2013.</li></ol>SEE ALSO: <a href="https://www.businessinsider.in/narendra-modi-pmeac-comments-on-indias-economic-slowdown/articleshow/70954078.cms" data-type="tilCustomLink" target="_blank">Here’s what Narendra Modi’s closest advisors have been saying about economic slowdown</a>

You Searched For "CAG hiring" and got 6 results

CAG is hiring more than 10,000 accountants and auditors around the country

BI India Bureau

Jammu and Kashmir Lt Governor Girish Chandra Murmu appointed as the new Comptroller and Auditor General (CAG) of India.

IANS

The man who audited the Rafale deal is now the subject of the controversy

Dilsher Dhillon

CAG thrashes ONGC over Rs 8k Crores loss

BI India Bureau

After firing hundreds of employees, Tiktok says it hopes to relaunch in India soon

Sanchita Dash

Raghuram Rajan’s recipe to revive India's economic growth

Sriram Iyer

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You Searched For "CAG hiring" and got 6 results

CAG is hiring more than 10,000 accountants and auditors around the country

BI India Bureau

​​Jammu and Kashmir Lt Governor Girish Chandra Murmu appointed as the new Comptroller and Auditor General (CAG) of India.

IANS

The man who audited the Rafale deal is now the subject of the controversy

Dilsher Dhillon

CAG thrashes ONGC over Rs 8k Crores loss

BI India Bureau

After firing hundreds of employees, Tiktok says it hopes to relaunch in India soon

Sanchita Dash

Raghuram Rajan’s recipe to revive India's economic growth

Sriram Iyer

Popular Keywords

Buying Guides

Jammu and Kashmir Lt Governor Girish Chandra Murmu appointed as the new Comptroller and Auditor General (CAG) of India.