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KSRTC’s profits are all blown up: CAG

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The Karnataka State Road Transport Corporation (KSRTC) overstated profits by a total of Rs 126.42 crore in 2007-08, says the report of the Comptroller and Auditor General of India (CAG) for the year. KSRTC, in its accounts earlier, had shown a profit Rs 40.54 crore in 2007-08. This means the KSRTC had actually incurred a loss of Rs 85.88 crore in 2007-08.

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The word 'government' was once meant to convey an aura of credibility. From that, it has today become synonymous with plain racketeering. At this rate, can the figures given out by any government organisation/ department be trusted any more than those dished out say by the erstwhile Satyam? Atleast, the Satyam's of this world get caught somewhere along and the wrong-doers land up in jails. But, government organisations care a damn, and in fact, go on even to flaunt the CAG reports like medals.

The earlier they hand over the service to the private sector the better
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