How can excess spending by ministries in the government be addressed based on the concerns raised by the Public Accounts Committee

Examine the measures that can be taken to tackle excess spending highlighted by the Public Accounts Committee in the government.
1. Implement strict budgetary control measures to ensure that ministries operate within allocated budgets. 2. Conduct regular audits to identify areas of excessive spending and address them promptly. 3. Increase transparency in financial reporting to the public and stakeholders to hold ministries accountable for their spending. 4. Provide training and guidance to ministry officials on efficient financial management practices. 5. Encourage the adoption of cost-saving measures such as bulk purchasing, renegotiating contracts, and reducing unnecessary expenses. 6. Establish a system for monitoring spending patterns and flagging deviations from the approved budget. 7. Penalize ministries that consistently exceed their budgets to incentivize adherence to financial regulations.
Answered 4 months ago
Krishna Preparing for Civil Services