CAG in the wheel: Apex court’s judgment a throwback to days of mistrust of private enterprise

The Supreme Court’s ruling that the Comptroller and Auditor General of India (CAG) is empowered to audit the accounts of private telecom companies expands the power of the public auditor well beyond that originally envisaged. Although the order is limited to the telecom sector, it will dampen already weak investor sentiment, besides raising serious doubts over the future of public-private partnerships (PPP).

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