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Parliamentary Control over Financial System and Executive - Polity, UPSC IAS Examination Video Lecture | Polity and Constitution (Prelims) by IAS Masters
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FAQs on Parliamentary Control over Financial System and Executive - Polity, UPSC IAS Examination Video Lecture - Polity and Constitution (Prelims) by IAS Masters
| 1. What is parliamentary control over the financial system and executive? |  |
Ans. Parliamentary control over the financial system and executive refers to the authority and oversight that the parliament exercises over government finances and the executive branch. It involves the scrutiny, approval, and monitoring of the budget, taxation, and expenditure decisions made by the executive. Parliament ensures that the financial system operates transparently, efficiently, and in accordance with the laws and regulations.
| 2. What is the role of Parliament in controlling the financial system? | |
Ans. The role of Parliament in controlling the financial system is to ensure accountability and transparency in the government's financial operations. Parliament reviews and approves the annual budget proposed by the executive, scrutinizes the allocation of funds to different sectors, and monitors the implementation of financial policies. It also has the power to question and hold the executive accountable for any financial irregularities or mismanagement.
| 3. How does parliamentary control over the financial system contribute to good governance? | |
Ans. Parliamentary control over the financial system contributes to good governance by promoting fiscal discipline, accountability, and transparency. Through its oversight role, Parliament ensures that public funds are allocated efficiently, effectively, and in line with national priorities. It helps prevent corruption, misappropriation of funds, and wasteful spending. By holding the executive accountable, parliamentary control fosters public trust and confidence in the government's financial management.
| 4. What are the tools available to Parliament for controlling the financial system? | |
Ans. Parliament has several tools at its disposal for controlling the financial system. These include the power to approve, amend, or reject the budget proposed by the executive, the authority to pass laws related to taxation and public expenditure, and the ability to question government officials on financial matters through parliamentary committees. Parliament also conducts financial audits, commissions inquiries, and can impose penalties or sanctions on individuals or institutions found guilty of financial misconduct.
| 5. How does parliamentary control over the financial system impact the executive's decision-making process? | |
Ans. Parliamentary control over the financial system influences the executive's decision-making process in multiple ways. The executive is accountable to Parliament for its financial decisions and policies, which encourages it to be more cautious and responsible in its actions. The need to secure parliamentary approval for budgets and financial proposals also compels the executive to engage in dialogue and negotiation with lawmakers, fostering a more participatory and inclusive decision-making process. Additionally, the threat of parliamentary scrutiny acts as a check on the executive's discretionary powers, ensuring that financial decisions are made in the best interest of the public.
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Nov 15, 2024 Last updated |
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