Indian Polity · Polity
Which mechanism provides financial accountability and oversight for PRIs and ULBs in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Annual fiscal evaluations managed solely by private urban consulting firms.
- 2Mandatory financial review through national referendums held every five years.
- 3Audit of accounts by State Auditors and oversight by the Comptroller and Auditor General (CAG).✓
- 4Direct fiscal audits conducted exclusively by the Union Cabinet.
Correct answer
Audit of accounts by State Auditors and oversight by the Comptroller and Auditor General (CAG).
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