22 October 2016 Current Affairs: The President of India, Shri Pranab Mukherjee inaugurated the 28th Accountants General Conference in New Delhi .
The institution of CAG is one of the oldest in the country with a history of more than one and a half centuries. He stated that Albert Einstein had once observed.
At the time of independence, in 1946-47, the receipts of Government of India amounted only to Rs 3,706 crore and its expenditure to Rs. 3,443 crore. Nearly seven decades later, in 2014-15, government receipts and expenditure had both increased to about Rs. 17 lakh crore. This unprecedented growth has obviously led to newer paradigms in public financial management. Concept of governance is rapidly changing and leveraging technology would enable the government to effectively reach out to the poorest of the poor. Increased use of technology platforms would help to ensure that benefits of Government schemes and programmes effectively reach the disadvantaged and financially excluded sections of society.
Among the dignitaries present on the occasion were Smt. Sumitra Mahajan, Speaker, Lok Sabha, Shri KV Thomas, Chairman, Public Accounts Committee and Shri Shashi Kant Sharma, Comptroller and Auditor General of India.