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News: The CGA launched the Government Bank Dashboard and Government Bank Manual to strengthen governance and efficiency in government banking transactions.
About Controller General of Accounts (CGA)
- The Controller General of Accounts is the Principal Advisor on accounting matters to the Union Government.
- Legal Status: It is not a constitutional body.
- The Allocation of Business Rules, 1961 mention the duties and responsibilities of the CGA.
- Nodal Ministry: It works under the Department of Expenditure, Ministry of Finance.
- Functions:
- Management Accounting System: CGA establishes and manages a technically sound Management Accounting System.
- Preparation of Accounts: It prepares and submits the accounts of the Union Government and produces monthly and annual analysis of expenditures, revenues, borrowings, and fiscal indicators.
- Exchequer Control and Internal Audit: It is responsible for exchequer control and internal audits.
About Comptroller and Auditor General (CAG)
- Constitutional Status: The CAG is a constitutional body established under Article 148 of the Constitution of India.
- Appointment: The President appoints the CAG on the recommendation of the Prime Minister.
- Audit Functions: The CAG audits all receipts and expenditure of the Union and state governments, including bodies financed by the government.
- Institutional Role: The CAG heads the Indian Audit and Accounts Department, which is managed by officers of the Indian Audit and Accounts Service.
- The Annual Appropriation Account (Civil) and Union Finance Accounts are submitted to Parliament under Article 150 of the Constitution on the advice of the CAG.
