Which one of the following statements with regard to the Comptroller and Auditor General (CAG) of India is NOT correct ?

The Comptroller and Auditor General (CAG) of India is an independent constitutional authority established under Article 148. While the CAG is appointed by the President of India, he does not hold office at the pleasure of the President. To ensure independence, the CAG can only be removed from office in the same manner and on the same grounds as a judge of the Supreme Court. Furthermore, the administrative expenses of the CAG's office, including his salary, are charged upon the Consolidated Fund of India. However, statement 3 is incorrect because Article 148(4) specifically mandates that the CAG shall not be eligible for further office under the Government of India or any State government after ceasing to hold office [2]. This provision is designed to prevent any potential conflict of interest or executive influence during his tenure.

Sources

1. [1] https://agup.nic.in/pag/hi/pfmandate.htm
2. [2] Indian Polity, M. Laxmikanth(7th ed.) > Chapter 52: Comptroller and Auditor General of India > INDEPENDENCE > p. 444