Which of the following can be audited by CAG?

1. Consolidated funds of India and States.2. Consolidated fund sof UTs having legislative assembly3. Contingency funds of India.4. Local bodies funds

Select the correct answer using the codes given below.
a) 1 and 2 onlyb) 1, 2 and 4 onlyc) 1, 3 and 4  onlyd) All of the above

Ans-[D] 

Explanation-Article 148 talks about establishment of CAG. It says there shall be a Comptroller and Auditor-General of India who shall be appointed by the President by warrant under his hand and seal and shall only be removed from office in like manner and on like grounds as a Judge of the Supreme Court.

As per the various provisions, the duties of the CAG include the audit of: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;

3.Accounts of stores and stock kept in Government offices or departments; 4.Government companies as per the provisions of the Companies Act, 1956; 5.Corporations established by or under laws made by Parliament in accordance with the provisions of the respective legislation;

6.Authorities and bodies substantially financed from the Consolidated Funds of the Union and State Governments;

7.Anybody or authority even though not substantially financed from the Consolidated Fund, the audit of which may be entrusted to the C&AG;

8.Grants and loans given by Government to bodies and authorities for specific purposes; and

9.Entrusted audits e.g. those of Panchayati Raj Institutions and Urban Local Bodies under Technical Guidance & Support (TGS).