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Transparency acts as a deterrent to corruption and embezzlement of public funds. Justify.

Topic: Utilization of public funds;

7. Transparency acts as a deterrent to corruption and embezzlement of public funds. Justify. (150 words)

Difficulty level: Easy

Why the question:

The question is part of the static syllabus of General studies paper – 4 and part of ‘Abstract Thursdays’ in Mission-2024 Secure.

Key Demand of the question:

To explain how transparency associated with utilization of public funds of the country will improve it efficacy.

Directive:

Justify – When you are asked to justify, you must pass a sound judgement about the truth of the given statement in the question or the topic based on evidence.  You must appraise the worth of the statement in question using suitable case studies or/ and examples.

Structure 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.