What is the role of the CAG in making India the third largest economy
Highlight the role played by the Comptroller and Auditor General (CAG) in the process of making India the third largest economy.
The Comptroller and Auditor General (CAG) plays a vital role in making India the third largest economy through their audit functions and oversight. Here are the key points highlighting their role:
- Ensuring Accountability: The CAG ensures accountability in the financial management of government bodies, including assessing the efficiency and effectiveness of programs and policies.
- Preventing Corruption: By conducting audits, the CAG identifies any misappropriation of funds, financial irregularities, or corruption, thus promoting transparency and eliminating malpractices.
- Policy Assessment: The CAG assesses the impact and outcome of various government policies, initiatives, and programs, providing valuable insights to policymakers and enabling effective decision-making.
- Optimizing Resource Allocation: Through financial audits, the CAG ensures efficient allocation of resources, eliminating wasteful expenditures, and encouraging prudent financial management.
- Improving Governance: The CAG's role in holding government bodies accountable leads to improved governance, fostering trust and confidence in the economy, attracting investments, and promoting sustainable development.
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