Omar underlines significance of CAG

JAMMU: Underlining the importance of Institution of Comptroller and Auditor General of India (CAG) for proper management of resources and transparency in the financial spending, Chief Minister, Omar Abdullah Wednesday, said that the Jammu and Kashmir Government would work together with this institution for ensuring lucidity in spending and improving the fiscal discipline.
“Functioning of CAG has become important topic for discussion in every household at present and headlines about it carried by newspapers do come to the people at their tables in the morning along with breakfast”, he said asserting that the significance of this Institution has remained equally vital in the past, it is vital at present and will remain same in the future.
Speaking at the valedictory function of 150th Anniversary celebrations of the Institution of Comptroller and Auditor General of India at Zorawar Stadium here, the Chief Minister appreciated the Institution for its valuable functioning throughout its life.
“Perhaps yours’ is the oldest Institution which has survived all weathers and contributed positively. We cannot do without you. CAG has existed, does exist and will exist”, he told the CAG officials underscoring its necessity for ensuring management of public funds. He said that the magnitude of functions of CAG to oversee accounting and auditing from Kashmir to Kanyakumari is huge and stupendous. He congratulated CAG for organizing the anniversary celebrations and making people aware of its functions and importance.
Omar Abdullah also referred to the efficacy of Legislature House Committees particularly on Public Accounts and Public Undertakings in overseeing the financial matters and helping improvement in the functioning of various departments on this count.
Chairman, Public Accounts Committee of Jammu and Kashmir Legislature, Mir Saifullah and Chairman, Committee on Public Undertakings, Rafi Ahmad Mir were present on the occasion besides Principal Accountant General, Venkatesh Mohan, Accountant General (A&E), J&K, D. K. Bakshi, Principal Regional Training Institute, Sushil Kumar, Director General, Accounts and Treasuries, G. M. Bhat and various other Central and State Government Officers were present on the occasion besides prominent citizens.
In his key-note address Venkatesh Mohan presented resume of the establishment of CAG and its growth and functioning during the last 150 years of existence in the field of Accounting and Auditing for ensuring transparency and fiscal discipline in the financial transactions and spending.
The Chief Minister also inaugurated Cover prepared by the Indian Post and Telegraph Department for CAG Reports.