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BW Businessworld

Calling For Attention

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Media reports suggest that the Comptroller and Auditor General (CAG) of India is planning to audit the underrecoveries by the public sector oil firms due to selling subsidised diesel, kerosene and LPG. 

Even though the numbers are huge, the opposition parties rarely create much fuss about them. The reason: these parties routinely agitate against any rise in petrol and diesel prices; it would be embarrassing for them to discuss and debate the under-recovery issue in Parliament.

The CAG audits many government institutions — both central and state. And its reports invariably point to money lost because of procedure not being followed or favouritism or simply bad decision-making.

But most of its reports do not garner much attention from our leaders.

For every 2G scandal or Coalgate controversy, there are dozens of reports which get buried with practically no attention. And that is a pity.

Strictly Business

German drug maker Merck willcut workforce in its domestic sites by 10 per cent by 2015 as part of a restructuring programme. “The positions will be reduced in a socially acceptable manner,” the company said in a statement.

(This story was published in Businessworld Issue Dated 17-09-2012)