What is the role of CAG in making India the third largest economy

The Comptroller and Auditor General (CAG) plays a significant role in facilitating India's journey to become the third largest economy. Here are some key points regarding the CAG's involvement: 1. Audit framework: The CAG ensures transparency and accountability within the economic system by establishing a robust audit framework that scrutinizes the financial transactions of the government. 2. Effective governance: By conducting independent audits, the CAG identifies inefficiencies, irregularities, and mismanagement in public spending. This information aids in improving governance, reducing corruption, and enhancing the overall efficiency of the economy. 3. Enhanced investor confidence: The CAG's oversight and assurance on financial procedures and compliance promote trust, attracting both domestic and foreign investors. This helps in boosting economic growth and making India an attractive destination for investments. 4. Policy formulation: Through its audit reports, the CAG provides valuable insights and recommendations to the government for policy formulation and implementation. This assists in improving economic strategies and strengthening the foundation for becoming the third largest economy. 5. Fiscal discipline: The CAG's role includes monitoring the fiscal discipline of the government. By ensuring effective management of public finances, it supports long-term economic stability, which is crucial for sustained economic growth. In conclusion, the CAG's commitment to transparency, accountability, and good governance is instrumental in achieving India's goal of becoming the third largest economy.