Topic: Utilization of public funds;
7. Why is transparency an important aspect in the utilisation of public funds? Explain with examples. (150 words)
Difficulty level: Easy
Reference: Ethics, Integrity and Aptitude by Lexicon Publications.
Why the question:
The question is part of the static syllabus of General studies paper – 4.
Key Demand of the question:
To explain how transparency associated with utilization of public funds of the country will improve it efficacy.
Directive:
Explain – Clarify the topic by giving a detailed account as to how and why it occurred, or what is the context. You must be defining key terms wherever appropriate and substantiate with relevant associated facts.
sStructure of the answer:
Introduction:
Discuss the importance of transparency and accountability in public funds.
Body:
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.
Conclusion:
Summarize of this will aid in the developmental process of the country as well as reduce corrupt practices.
