GS4 · 10 marks · 150 words

'Just-in-time' release of funds heralds a significant reform for the Indian government's payment architecture. Discuss.

Answered by 4 toppers · CSE 2022–2024

Utilisation of Public Funds Accountability and Ethical Governance Probity in Governance Quality of Service Delivery

Syllabus: Probity in Governance: Concept of public service; Philosophical basis of governance and probity; Information sharing and transparency in government, Right to Information, Codes of Ethics, Codes of Conduct, Citizen’s Charters, Work culture, Quality of service delivery, Utilization of public funds, challenges of corruption.

How toppers approached it

From all 4 answers · about 130 words · 25% drew a diagram.

Opening

A definition2 of 4
No separate opening2 of 4

Body

Points4 of 4

No separate close2 of 4
A summary1 of 4
A way forward1 of 4

The toppers’ answers

Parsanjeet KourAIR 11 · CSE 2022 · 140 wordsTheir whole copy

Opening

Lack of proper funds and their dispersal in later times are two most important issues that affect payment architecture in India.

According to CAG, government incurs an additional cost of 1% of GDP due to late dispersal of funds. 'Just-in-time' release of funds is a step in this direction. This would ensure

Body · points

→ Speedy clearance of funds from authority → Promotion of ease of doing business → Promote capital in market → Promote private investment in economy.

Additionally it would also ensure

that corruption in system is addressed, faith of public in governance is restored and bottlenecks in administration plucked off.

Initiatives like e-Pay, Digital banking and proposal of digital currency are all steps to realize quick funds release.

Inspiration from nations like Singapore, USA can be taken as a message to herald new era of payment architecture in country.

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Stewardship of money that is not one's own: waste, diversion, and the duty to spend well.

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