Which of the following constitutional institutions audits the receipt and expenditure of the Union and State governments?

Option 1 : Comptroller and Auditor General of India

The correct answer is Comptroller and Auditor General of India.

• Article 148 provides for an independent office of the Comptroller and Auditor General of India.
• He is the head of the Indian Audit and Accounts Department.
• He is the guardian of the public purse and controls the entire financial system of the country at both center and state levels.
• His duty is to uphold the Constitution of India and the laws of Parliament in the field of financial administration.
• Dr. B. R. Ambedkar describes it as one of the bulwarks of the democratic system of the Government in India; the others being the Supreme Court, the Election Commission, and the Union Public Service Commission.
• Functions - 
  • Comptroller and Auditor General of India audit the accounts related to all expenditure from the Consolidated Fund of India, each state and Union territory having Legislative assembly.
  • He audits all the expenditures from the Contingency Fund of India and states and the Public Accounts of India and states.
  • He audits the receipts and expenditures of the Centre and each state.

Note - 

• Comptroller and Auditor General of India holds office for a period of six years or up to the age of 65 years, whichever is earlier.
• He can resign by addressing the resignation letter to the President.
• He can be removed by the President on the same grounds and in the same manner as a judge of the Supreme Court.