Press Information Bureau
Government of India
Ministry of Finance
CAG of India Formulates Big Data Management Policy to Meet Future Challenges
Shashi Kant Sharma Chairs 1st BRICS SAIs Leaders Meeting
CAG Institution in India has taken several initiatives towards use of latest data analytical tools for audit planning & analysis and is also fine tuning its methodology for audit of environmental issues for better impact. This was disclosed by Comptroller and Auditor General of India Shri Shashi Kant Sharma in Beijing today. He was delivering a key note address at the 1st Meeting of the Supreme Audit Institutions of BRICS countries in Beijing. Shri Sharma also shared the contributions made by the CAG institution of India in enhancing transparency and accountability in governance and in promoting economic and social development.
The CAG said that our Governments have taken several initiatives to address the challenges faced by our countries and the people by automating service delivery, choosing partners in development through Public Private Partnership arrangements, opening up economy for foreign direct investments and by focusing on sustainable development. These government initiatives have brought in new challenges to the SAI auditors. This has also placed enhanced Demands for greater objectivity in public dealings and transparency in governance, he added.
Shri Sharma said that big strides have been made by Government in automating services rendered by it and in collecting, compiling and reporting data on its programme interventions. This has led to a digital data explosion and opened up an opportunity to the SAIs, which would be one of the few agencies to have access to such vast data held by different government agencies. In the past, SAI auditors were content to analyze the data maintained by the audit agencies. “Big data” has provided a window to the SAI auditors to examine the audited agency data along with related data from other sources.
The CAG of India disclosed that “Recognizing this trend, India has formulated a Big Data Management Policy and is in the process of establishing a Data Analytics Centre. Our pilot results on using sophisticated data and visual analytic tools have already produced promising results. I am convinced that use of improved data analytics will enable the SAIs to come up with more incisive audit findings and to assist the Governments in taking appropriate policy decisions.”
Shri Sharma said that for SAI India, this meeting assumes greater significance as India has recently assumed Chairmanship of the BRICS. The theme of India’s BRICS Chairmanship is Building Responsive, Inclusive and Collective Solutions. During India’s BRICS Chairmanship, India will adopt five-pronged approach emphasizing on (i) Institution building to further deepen, sustain and institutionalize BRICS cooperation; (ii) Implementation of the decisions from previous Summits; (iii) Integrating the existing cooperation mechanisms;(iv) Innovation and (v) Continuity.
Tomorrow, Shri Shashi Kant Sharma will be conferred the prestigious honour of the Professorship and Scholarship Award at the Nanjing Audit University. Head of Supreme Audit of Institutions of China, South Africa, Brazil and Russian Federation will be present at the time of Award Ceremony.