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Which of the following funds/authorities/bodies can be audited by CAG:
1. Consolidated funds of India, States and UTs having legislative assembly.
2. Contingency funds of India
3. Receipts and expenditures of PPP.
Select the correct statements using the codes given below:
1 and 2 only
1 only
2 only
All of the above
All of the above are audited by CAG in India. Offices audited by CAG: 1) Receipts and expenditure from the Consolidated Fund of India and of the State and Union Territory having legislative assembly. 2) Trading, manufacturing, profit and loss accounts and balance sheets, and other subsidiary accounts kept in any Government department; Accounts of stores and stock kept in Government offices or departments. 3) Government companies as per the provisions of the Companies Act, 1956. 4) Corporations established by or under laws made by Parliament in accordance with the provisions of the respective legislation. 5) Authorities and bodies substantially financed from the Consolidated Funds of the Union and State Governments 6) Anybody or authority even though not substantially financed from the Consolidated Fund, the audit of which may be entrusted to the C&AG. 7) Grants and loans given by Government to bodies and authorities for specific purposes. 8) Entrusted audits e.g. those of Panchayati Raj Institutions and Urban Local Bodies under Technical Guidance & Support (TGS).
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