Who among the following is known as the "Guardian of the Public Purse"?
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A.
Finance Minister
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B.
Comptroller and Auditor General
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C.
Prime Minister
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D.
Reserve Bank of India
Correct Answer:
B. Comptroller and Auditor General
Explanation:
The Comptroller and Auditor General (CAG) of India is known as the Guardian of the Public Purse. According to Article 148 of the Constitution, the CAG is an independent authority serving as the head of the Indian Audit and Accounts Department. This role is considered a primary bulwark of India's democratic system because the CAG controls the entire financial system at both the Central and State levels. Their primary duty is to uphold the Constitution and parliamentary laws regarding financial administration, ensuring that public funds are used legally and efficiently by auditing all expenditures from the Consolidated Fund of India and the states. Therefore, while the Finance Minister manages the budget and the RBI oversees monetary policy, the CAG is specifically tasked with safeguarding public finances through rigorous oversight and accountability.
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