Indian Govt Must Support Enterprises Not Entrepreneurs: CAG

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Cambridge (Massachusetts): CAG Vinod Rai rebutted criticism that the official auditor was exceeding its mandate, saying it was treading a "new path in the belief that the final stakeholder is the public at large".

In a lecture at the Harvard Kennedy School, he referred to the CAG exceeding its mandate to say that since the Indian democracy is maturing and the urban middle class is becoming more involved in affairs of citizens, "we continue to tread the new path in the belief that the final stakeholder is the public at large".

Rai, whose reports on various scams had raised hackles of those in government, said the CAG would endeavour to uncover instances of crony capitalism and counselled the government to support enterprises per se and not entrepreneurs.

"We may not be able to wipe out corruption, but our endeavour is to uncover instances of crony capitalism.

The government should be seen to support enterprise per se and not particular entrepreneurs," he said.

Rai, who was been criticised by the Indian government for reports on various scams like in telecom, coal etc, said the role of a public auditor cannot be confined to merely placing its report in Parliament.

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