Which of the following statement is correct about "Comptroller and auditor General" 1) CAG is responsible to audit all receipts and expenditure of Government of India only. 2) The reports of the CAG are taken into consideration by the PAC( Public accounts committee) and (COPUs) Committees on public undertakings.?

Option 2 : Only 2

The correct answer is Only 2.

• CAG is a constitutional body mentioned under article 148 of the Indian constitution.
• CAG is responsible to audit all the receipts and expenditures of the government of India and the state government.
• CAG is also the external auditor of government-owned corporations.
• It enjoys the same status as a judge of the Supreme court of India.
• G.C Murmu is the current CAG of India.
• The terms length of CAG is 6 years or up to 65 years of age.
• He is appointed by the president of India followed by the recommendations of the PM.
• The function of CAG includes the audit of government companies as per the provisions of the companies act, 2013.
• It also audits the grants and loans given by the government to bodies and authorities for a specific purpose.