Public Financial Governance And Government financial

1
Public Financial Governance
Government financial governance
University
Word count
Table of Contents

2
Public Financial Governance
Key aspects of Busan partnership on aid effectiveness...................................................................2
Relevant Sustainable Development Goals (SDGs)..........................................................................3
Tools to identify system weaknesses...............................................................................................3
Identification of developing country and its weaknesses................................................................4
Benefits and drawbacks of IPSAS implementation in India...........................................................4
Benefits........................................................................................................................................4
Risks.............................................................................................................................................4
Support required from development partners..................................................................................5
References........................................................................................................................................6

3
Public Financial Governance
Key aspects of Busan partnership on aid effectiveness
The disaggregation of data by gender, promotion of sustainable development by the financial aid
given through Busan Partnership, transparency and accountability, disasters or climate change
resiliency are the key aspects of Busan partnership from the perspective of public financial
governance. Along with this, fighting against corruption and tax evasion, strengthening national
financial institutions, fostering public-private partnerships, climate change financing, and
preventing proliferation of multilateral financial programmes also helps the government agencies
strengthen public financial governance worldwide. As per Busan partnership agreement, the
public financial management system is made the default system of payment for getting aid from
development partners (Martini et al., 2012). Moreover, the provision of electronic publication
of data approves a common standard of payment.
Relevant Sustainable Development Goals (SDGs)
Public financial governance system relates to goal 5 and 10 which foster gender equality and
reduced economic inequalities all over world respectively. Public Financial governance system
also relates to goal 1 (No poverty) and goal 2 (no hunger) because public finance helps remove
poverty and hunger in developing country like India. 2 other SDGs which aid effectiveness
partnership through Busan agreement and Paris agreement relates to are goal 8 and 9 (Pradhan
et al., 2017). Goal 8 fosters decent work and economic growth which can be accentuated
through public financial aid whereas goal 9 is related to industry, innovation and infrastructure
which are actually development activities promoted through public financial aid provided by
development partners as per the Rome (2003) and Paris agreement on aid effectiveness (2005)
and Busan partnership.