New Delhi: Assessing the ‘profit of gompongan’, making ordinary terms with coal fraud, returning in currencies and the possibility of becoming a permanent feature with Comtrroller and General Auditor (CAG) began the national resource accounting process (NRA) which seek tighter supervision and Mineral and energy resource accounting from America.
All states and UTS have been asked to submit their ‘asset accounts’ towards their mineral and energy resources until 2020-21 in March next year for the auditor to resolve cross verification of the physical and monetary values of these assets.
This exercise will involve verification of income obtained firmly through royalties of extraction of mineral and energy resources, except oil and gas below the center, by private or public sector companies.
Oil and natural gas have a separate accounting process.
‘Asset Account’ will provide information about the total state mineral resources, annual extraction, estimated market value and actual income obtained.
A comparative study by the auditor will ask for each country to ‘upcoming upcoming’ to private entities, if any, because lower royalties are extracted / theft.
The implementation of the NRA has been taken priority as a “important project” and government accounting standards and the Advisory Board established in CAG with this agenda out with its first concept paper in NRA in July 2020.
When was the last time, when CAG had done similar exercises (like NRA) which involves the allocation of captivity coal blocks, the Cabinet Minister of the UPA dispensation openly does not agree and question the auditor’s intention.
The 2012 CAG report has predicted a ‘upcoming increase’ of more than 1.8 lakh crore rs to private and public sector companies that have been allocated coal blocks that are broken.
Finally, the CBI probe monitored by the Supreme Court against irregularities in the allocation of coal blocks which peaked in cancellations of all the allotment carried out between 2004 and 2011.
In the ongoing NRA exercise, the federal auditor had issued direction to declare through “asset account templates.” Asking them To “streamline and improve their internal control mechanisms in mining activities” which include a compulsory installation of automatic e-permission permit systems with coding bars for verification at the checkpoint.
This will allow real time information with relevant supervisory authorities.
The auditor has also been trying to impose strict sentence measures to default entities, including government departments and officials who fail to comply with these ‘strict’ steps, do not ensure valid electronic permits or royalty collection while allowing transportation.
The next NRA list is accounting for water resources, land and forests & wildlife.
CAG lenses on natural resources to prevent ‘upcoming increases’
