What is the role of the Comptroller and Auditor General (CAG) in making India the third largest economy
Murmu says CAG will play a key role in making India the third largest economy
The Comptroller and Auditor General (CAG) plays a significant role in India's journey towards becoming the third largest economy. Here are a few reasons why:
- Ensuring financial accountability: The CAG audits government accounts and ensures transparency and accountability in the financial management of government bodies. This promotes fiscal discipline and helps in efficient resource allocation.
- Preventing corruption and fraud: Through audits and investigations, the CAG identifies instances of corruption, financial mismanagement, and fraud in government bodies. By detecting and deterring such activities, the CAG helps in promoting integrity and ethical practices in the economy.
- Promoting effectiveness and efficiency: The CAG assesses the performance of government programs, policies, and schemes, helping to identify areas of improvement and enhancing their effectiveness and efficiency. This supports India's economic growth and development.
- Safeguarding public funds: The CAG ensures that public funds are utilized according to the designated purposes and in compliance with financial regulations. By preventing wastage and misuse of public money, the CAG contributes to the overall economic growth of the country.
- Enhancing investor confidence: Through its audits, the CAG provides an independent assessment of the financial management of government entities. This helps in enhancing investor confidence, attracting investments, and fostering economic stability and growth.
Answered
a year ago