Dr.K.K.Ammannaya

Tighten GovernanceThe budget must lay utmost accent on governance this time.India can surely achieve double-digit growth rate if governance -deficit that is in existence is eliminated or at least reduced in the coming years.Good and effective governance is crucial from the point of view of deriving results commensurate with spendings and utilisation of funds by each Ministry and department both at the centre and in the states.Through tightening governance at every level it is possible to obtain results equivalent to spending and investments.Presently lot of funds are diverted or misutilised.All types of diversion of funds,misutilisation,pilferage,scams etc can be eliminated if governance is good and effective.Stress must always be on obtaining maximum possible outcome and results from every Rupee released and spent.Continual monitoring of fund releases,fund utilisation,spendings,physical results achieved through such spendings etc will enable the government to ensure that results are commensurate with spendings.In the implementation of every new policy and scheme good governance must be ensured Otherwise the government may not know what is happening and some day some other scam may come to light.Reform of various government institutions is also crucial from this angle.The government must be able to ascertain from time to time what physical results are achieved and by spending how much and what is the extent of the result with reference to spendings.Through this type of governance alone it is possible to ensure that maximum physical results are achieved by spending each single Rupee.Another important requirement today is to give a big push to economic reforms.During the last few years most essential reforms have been neglected by government.All the pending items of economic reforms must be taken up and implemented with full vigour.The budget must provide a blue-print of reforms that will be taken up and implemented in 20011-12.Similarly the Finance Minister must give a clear message to states that they too must take up and implement some essential reforms including reform of all types of state institutionslike state financial corporations.Through taking up reforms it is possible to generate fresh optimism and tremendous business confidence which alone will give lot of impetus to growth.