Topic: Utilization of public funds;
7. The lack of transparency remains a major impediment in utilisation of public funds, which in turns affects our developmental goals. Examine. (150 words)
Difficulty level: Moderate
Reference: Ethics, Integrity and Aptitude by Lexicon Publications.
Why the question:
The question is part of the static syllabus of General studies paper – 4 and part of Mission-2022 Secure.
Key Demand of the question:
To explain how transparency in utilization of public funds of the country will improve it efficacy.
Examine – When asked to ‘Examine’, we must investigate the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications.
Structure of the answer:
Discuss the importance of transparency and accountability in public funds.
Explain the lacunae in the country with respect to utilization of public funds such as corruption, nepotism, incomplete works, bad quality work, siphoning funds etc.
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, Financial Prudence etc.
Summarize of this will aid in the developmental process of the country as well as reduce corrupt practices.