Consider the following statements regarding the Comptroller and Auditor General (CAG) of India:
Statement I: The CAG can audit non-commercial autonomous bodies and authorities owned or controlled by the Union or the States.
Statement II: Article 149 of the Constitution and the CAG’s Duties, Powers and Conditions Act of 1971 empower the CAG to audit a wide range of government entities, including non-commercial autonomous bodies and authorities.
Which one of the following is correct in respect of the above statements?
1
Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
2
Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
3
Statement I is correct, but Statement II is incorrect.
4
Statement I is incorrect, but Statement II is correct.