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7) Utilization of public funds in a country must obey to the principles of transparency and efficiency. do you agree? Give your opinion with suitable examples.(250 words)

Topic: Probity in Governance: Concept of public service; Philosophical basis of governance and probity; Information sharing and transparency in government, Right to Information, Codes of Ethics, Codes of Conduct, Citizen’s Charters, Work culture, Quality of service delivery, Utilization of public funds, challenges of corruption.

7) Utilization of public funds in a country must obey to the principles of transparency and efficiency. do you agree? Give your opinion with suitable examples.(250 words)

Ethics by Lexicon publications

 

Why this question:

The question is aimed at analyzing the aspects of utilization of publice funds in a country.

Key demand of the question:

One must discuss in detail the aspects of transparency and accountability associated with utilization of public funds of the country.

Structure of the answer:

Introduction: 

Discuss the importance of public funds.

Body:

Explain what is meant by public funds – Public funds includes all the money that belongs to the public and is held by the government as a custodian and not an owner. Its utilization must adhere to the principles of transparency and efficiency.

Discuss the significance of Transparency and efficiency as tools for monitoring and supervising distribution of public fund.

Explain various mechanisms through which it can be done – Public Fund Management System, Auditing agencies – CAG, Budgeting – Outcome based budgeting, zero base budgeting, Participation and transparency – Social Auditing and Citizen Charters, Financial Prudence – FRBM act etc.

Conclusion:

Conclude with significance accountability and transparency in utilization of public funds.