Main Article Content
Abstract
This paper aspires to study the economic growth fueled sustainable development transforming modern India by examining the interplay of public expenditure and governance of India. The analysis prima facie shows that public expenditure i.e. spending on agriculture, education, defense, banking system, infrastructure, and healthcare has a logical impact on development. The systematic successful distributions of public funds to both urban and rural areas make variable impact on people life. Several schemes launched by successive governments have kindled a strong sense of sustainable developments. However, the low level of taxation is also a major problem due to unawareness about implementation of GST rules especially in MSME sectors in India. There are very huge problems for the low tax ratio have to be found in agriculture incomes due to multiple objectives loaded into tax policy, tax abuse with multinationals and poor tax administration in India. The extant research has shown that there are gaps and unfinished agenda that need further action and refinement. The basic objective of my academic endeavor is to correlate the public expenditure and governance to concomitant economic growth towards Resurgent India. The analysis has done from the year 2015 to 2019 and data taken from various government schemes of India and RBI. The objectives of this paper include the analysis of efficiency and effectiveness of the system, process of budgetary decisions, modernizing internal audit and control systems, etc.