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Mrcrr: Audi Report, Management letter and Audit Certificate in respect of World Bank
assisted Efficient and Sustainable City Bus Service (ESCBS) Grant No. TF-018577
for the year 2018-19.
Please find enclosed Audit Report, Audit Certificate and Management letter in respect of
World Bank assisted Efficient and Sustainable City Bus Service (ESCBS) Grant No. TF-018577
f[r the ycar 2018-19, Ministry of -fousing and Urban Affairs New Delhi.
(0. NEDUNCHEZIAN)
vln /Phone: +91-:11-23702357, 4½gm /Fax: ±91-11-23702359, E-mail: pdaesm@cag.gov.in


Office of the Director General of Audit,
Economic and Service Ministries,
AGCR Building, I P Estate, New Delhi-02
No: AMG-5/ 2(41) IR (2018-19) ESCBS /2019-20j/'r,5C       Dated: q
To
The Secretary to the Government of India
Ministry of Housing and Urban Affairs
Nirman 3hawan,
New Delhi.
We have audited the accompanying Financial Statements of the Efficient and Sustainable
City Bus Service (ESCBS) project which comprises Statement of Sources and Application of
Funds and the Reconciliation of Claims to Total Applications of Funds for the year ended 31
March 2019. These statements are the responsibility of the Project Management. Our
responsibility is to express an opinion on the accompanying financial statements based on
our audit.
We conducted our audit in accordance with the Auditing Standards promulgated by the
Comptroller and Auditor General of India. These Standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. Our audit examines, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. It also includes assessing the accounting
principles used and significant estimates made by management as well as evaluating the
overall statement presentation. We believe that our audit provides a reasonable basis for our
opinion.
In our opinion, the financial statements present fairly, in all material respects, the sources and
application of funds of the Efficient and Sustainable City Bus Service (ESCBS) project for
the year ended 31sL March, 2019 in accordance with Government of India accounting
standards.
In addition, in our opinion, (a) with respect to Statement of Expenditure (SOE)/Interim
Unaudited Financial Reports (IUFRs), adequate supporting documentation has been
maintained to support claims to the World Bank for reimbursement of expenditure incurred
and; (b) except for audit observations mentioned in the management letter appended to this
Audit Report, expenditure are eligible for financing under the Loan/Credit Agrcement.
During the course of audit of Statement of Expenditure (SOE)/ Interim Unaudited Financial


Reports (IUFRs), an amount of Rs. Rs. 89.33 lakh can be relied upon to support of
reimbursement under the Loan/Credit Agreement.
The audit report is issued without prejudice of CAG's right to incorporate the audit
observations in the Report of CAG of India for being laid before Parliament/State or UT
Legislature.
Principal Director of Audit


Office of the Director General of Audit,
Economic and Service Ministries,
AGCR Building, I P Estate, New Delhi-02
No: AMG-5/ 2(41) IR (2018-19) ESCBS /2019-201 5a 6 -   Dated:elh
AUDIT CERTIFICATE
The Statement of Expenditure/Financial Statements relating to Efficient and Sustainable City
Bus Service (ESCBS) project GEF Grant No. TF-018577 for the year 2018-19 attached
hereto have been audited in accordance with the regulations and standards of audit of the
Comptroller and Auditor General of India and accordingly included such tests of accounting
records, internal checks and controls, and other auditing procedures necessary to confirm.
(a)   that the resources were used for the purpose of the Projects, and
(b)   that the expenditure staticments/financial statements are correct.
During the course of the audit referred to the above, Statements of Expenditure/ Interim
Unaudited Financial Reports (IUFRs) amounting to Rs, 89.33 lakh for the year 2018-19 and
connected documents were examined and these can be relied upon to support reimbursement
under the aforesaid loan/credit agreement.
On the basis of the information and explanations that have been obtained as required and
according to the best of our information as a result of the test audit, it is certified that the
Financial Statements represents a true and fair view of the implementation of the Project for
the ycar 2018-19.
This certiFicate is issued without prejudice to CAG's right to incorporate the audit
observations in the Report of CAG of India for being laid before Parliament.
Principal Director of Audit