ShashiKant Sharma - new CAG

Defence Secretary Shashi Kant Sharma was named as the new Comptroller and Auditor General of India (CAG). The 1976 Bihar cadre officer will succeed Vinod Rai, who superannuates after five and a half years of eventful tenure as the head of the Constitutional financial watchdog.

The Finance Ministry said in a statement that, the President of India has appointed Shashi Kant Sharma, IAS, as the Comptroller and Auditor General 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 taking over charge of the CAG from May 23, 2013. He was administered the oath of office by President Pranab Mukherjee. Like Mr. Rai, Mr. Sharma too has served as Secretary in the Department of Financial Services.

The CAG is appointed for a term of six years or till the incumbent attains the age of 65 years, whichever is earlier. CAG audit reports on 2G spectrum and coal block allocations during Rai’s tenure triggered a number of controversies and raised the hackles of the government, besides bringing in the concept of presumptive loss in audit.

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Today (May 22, 2013) will be the happiest day for Congress led by Sonia Gandhi + Rahul Gandhi (Manmohan Singh) as the CAG Chief, Mr. Vinod Rai retires from his post. For that itself PM will host dinner to party and his coalition leaders (though officially it is said as to celebrate??? UPA enters ninth year)

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