Public expenditure management is a challenge to the Government of India in the context of budget-making during the post-liberalization period. Clarify it.
Introduction
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Main Body
[Diagram showing]: Goals of Public Expenditure Management → Fiscal discipline, Strategic resource allocation, Good operational management of Government functions
Post-liberalisation period refers to period after the adoption of LPG reforms of 1991
Public expenditure management challenges in context of budget making:
(i.e. duplex sub) - employ only 12% but contribute around 51% of GDP
price of fertilizer, oil, etc has added to burden of subsidy
(i.e. duplex sub) - employ only 12% but contribute around 51% of GDP
However, Government measures have ensured that Public expenditure Management is not challenge anymore
a) Public Finance Management system - web based online software that tracks funds under all scheme of GoT
b) Adoption of many other digital solution like PFAGAT, Direct Benefit Tranfer, etc
c) Lean Foreign shares or Capital support in form of multilateral institution grants, loans has strengthened government position
d) Way forward:
2a) Fiscal prudence & Fiscal consolidation measure to streamline efficient expenditure
2b) Equal push to both economic development & social security measures allowing holistic development of citizin
Although challenged by LPG measures, Government has difficult tools at his disposal for better PEM powers
— Dr. Sachin B L
Conclusion
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- Clear definition provided
- Diagram showing goals
- Multiple challenges identified
- Reference to post-liberalization context
Dr. Sachin B L
Government Finance
Public Expenditure Management
Budget management in post-liberalization
407
Total words
22
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