Publication: Study of Recent Literature on Public Financial Management and Accountability (PFMA) System of the Government of India
Date
2005-11
ISSN
Published
2005-11
Author(s)
World Bank
Abstract
This report conducts a survey of the
more recent literature on the public financial management
and accountability system of the Government of India and
analyzes its contents. The overall objective is to provide
the basis for enhanced knowledge and understanding of the
public financial management and accountability system
including its strengths and weaknesses as perceived by the
authors of the publications. The study prepares an annotated
bibliography of select contemporary material on the public
financial management and accountability system and presents
an analytical survey relating to its various components. The
study concludes that the legal systems are in place in all
areas, as well as the attendant procedures, rules and
regulations. Trained manpower is available. Oversight
systems are vibrant through well established independent
external audit and legislative committees. There is
increasingly more transparency in the budgetary disclosures.
Steps have been taken to review the existing accounting
systems. One area of concern is the compliance gap. There is
found to be slackness in observing and enforcing the rules
and regulations.
Citation
“World Bank. 2005. Study of Recent Literature on Public Financial Management and Accountability (PFMA) System of the Government of India. © Washington, DC. http://openknowledge.worldbank.org/entities/publication/9eaf1e58-6397-58b4-b34a-bddb9f8ba53d License: CC BY 3.0 IGO.”