Official Answer Key & Detailed Solution
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Correct Answer: Option (D) — To control the receipt and issue of public money, and to ensure that the public revenue is lodged in the exchequer
Concept & Option Breakdown
Standard Reference VerifiedThe CAG of India audits and reports on expenditures from the Consolidated Fund, Contingency Fund, and Public Account, as well as trading and profit/loss accounts of government entities. However, unlike the British CAG, the Indian CAG does not exercise exchequer control over the actual receipt and issue of money, which is managed by the executive (Ministry of Finance/RBI).
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