Addressing India’s public financial management challenges: Insights and advocacy by Anupam Kulshrestha

• by MSC
• Apr 26, 2024
• 1 min

Mr. Anupam Kulshrestha highlights the challenges in India’s Public Financial Management (PFM) ecosystem, which include fiscal federalism-related complexities and bureaucratic hurdles. He proposes JIT funding and emphasizes the need for improved accountability mechanisms and data integrity for effective governance.

Mr. Anupam Kulshreshtha, who once was the Deputy CAG of India, talks to us about ways to address India’s PFM challenges in the context of fiscal federalism-related complexities and bureaucratic obstacles. Though PFMS implementation has improved payment regulations, issues linked to integration remain. Mr. Kulshrestha advocates for JIT funding and emphasizes enhancing accountability mechanisms and data integrity. The separation of accounting and auditing functions within the CAG’s department ensures integrity, yet the reformation of accounting cadres poses administrative hurdles. He highlights the importance of proactive audit measures essential to sound policy formation and governance efficacy.