President Mukherjee inaugurates 28th Accountant General conference

Speed Post News Network

New Delhi:  President of India Pranab Mukherjee inaugurated the 28th Accountants General Conference in New Delhi on Thursday. Speaking on the occasion, the President said that the founding fathers of our Constitution had envisaged a prominent role for public audit in our country’s governance and accountability framework.

The institution of CAG is one of the oldest in the country with a history of more than one and a half centuries, the President said. He stated that Albert Einstein had once observed, “It is important not to stop questioning.” And he was happy to be present in the precincts of an institution whose job is to question.
The President said that public expenditure has increased manifold and the scope and range of governmental activities had multiplied exponentially, according to a PIB release. At the time of independence, in 1946-47, the receipts of Government of India amounted only to Rs 3,706 crore and its expenditure to Rs. 3,443 crore. Nearly seven decades later, in 2014-15, the government receipts and expenditure had both increased to about Rs 17 lakh crore. This unprecedented growth has obviously led to newer paradigms in public financial management. Concept of governance is rapidly changing.