« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing 2025: 6 Key Reporting Changes In ITR -2 Form That Taxpayers Must Know «  Octroi, entertainment & entry tax may survive GST... ‘Tax rate on sale of securities by NRIs remains unresolved’... » Vinod Rai appointed as new CAG December, 21st 2007 Financial Services secretary Vinod Rai will be the new Comptroller General of India (CAG) and take over from the incumbent V N Kaul who will be going to audit advisory committee of the United Nations. Rai's appointment will be effective from the date he assumes charge of his office, an official statement said on Monday. Before this appointment, he was to retire on May 31, 2008. But now, he is expected to assume the new job from next year. Kaul was scheduled to retire on January 8, 2008, but now he is expected to join the newly established UN Audit Advisory Committee on January 1, sources said. Mooted by the World Summit 2005, Independent Audit Advisory Committee (IAAC) of the United Nations aims at improving accountability of the UN Secretariat towards member states. An Indian Administrative Service (IAS) officer of Kerala cadre, 1972 batch, Rai was the Managing Director of Kerala State Co-operative Marketing Federation from 1977 to 1980. Since 1980 he has held various positions in different ministries. Prior to taking over as Financial Services Secretary, Rai was additional secretary in the Banking Division of the Finance Ministry. He holds Master's Degree in Economics from the University of Delhi and Master's in Public Administration from Harvard University.