Defence Secretary Shashi Kant Sharma to be new CAG
The government on 21st May 2013 formally appointed Defence Secretary and veteran bureaucrat Shashi Kant Sharma as the next Comptroller & Auditor General of India. A Bihar cadre IAS officer of the 1976 batch, Sharma has spent the better part of the past decade in the defence ministry, where he held various roles, including as secretary in the department of financial services. He will succeed Vinod Rai, who superannuates on 22 May 2013 after five and a half years of eventful tenure as the head of the Constitutional financial watchdog. According to Finanace Ministry Mr. Shashi Kant Sharma was appointed by President of India in terms of Article 148 (1) of the Constitution of India. Mr. Sharma who holds a masters degree in political science from the University of York, will be administered the oath of office by President Pranab Mukherjee on 23 May 2013(Thursday). The CAG is appointed for a term of six years or till the incumbent attains the age of 65 years, whichever is earlier.
About Comptroller & Auditor General of India
The Comptroller and Auditor General (CAG) of India an authority, established by the Constitution of India under Chapter V, who 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. 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 is also the head of the Indian Audit and Accounts Service, which has over 58,000 employees across the country. In the Constitution of India CAG is mentioned under Article 148 – 151. The CAG is ranked 10th and enjoys the same status as a judge of Supreme Court of India in Indian order of precedence.