Public Finance has been saved
The Public Finance team of Deloitte India assists the Governments to focus their efforts in the right direction and assist them in achieving their financial objectives in the most optimal way.
We approach the sector at five levels - namely, (1) International Governmental Organizations and Funding Agencies, (2) National/ Central Government Ministries or Departments, (3) Regional/ Sub-national Governments, (4) Local/ Municipal Governments and (5) Quasi-Government Bodies. Each level has different characteristics as they focus on different functions of the Government. The Public Finance team has been closely working with clients in the public sector and all levels of the Government and key donors such as World Bank, ADB, USAID, DFID and JICA.
The strength of our practice is a well-staffed, well-trained, motivated and well-managed team with experience in all aspects of Public Finance in both India and abroad. The collective experience of the team is very huge in terms of man years with proven track record of efficient and successful assistance to central, state and local governments in various forms of reforms.
Further, Deloitte has a large Public Finance consulting practice worldwide. The collective expertise of our team places the Public Finance practice in a position to quickly understand the issues and provide solutions that are best fit considering the local conditions.
Our primary focus areas are as follows:
Fiscal Reforms – Continued budget deficits and Government debts hamper future growth. Fiscal reforms aim to rationalize and prioritize Government operations for a most coherent economic growth.
Regulatory Reforms – Regulatory reforms provide the right tools to the Governments to execute and monitor performance of targeted development.
Policy Reforms – Policy reforms chart the path for further reform initiatives. They lay the foundation for committing Governments towards much needed development in various sectors.
Financial Management – Support collection of sufficient financial resources from the economy in an appropriate manner along with allocation and use of these resources efficiently and effectively.
Revenue Management – Management of revenue as per the reform targets of the Governments ensures a coherent approach to sustainable growth. Government revenue management includes realignment of sources of revenue (both tax and non-tax), measures to broaden revenue base and improving revenue collection measures.
Expenditure Management – Rationalized Government expenditure reduces fiscal stress reflecting its prudent financial management practices. Ensuring that all expenditure undertaken is in-line with the reform targets, mirrors the Governments’ commitment towards efficient governance.
Public Debt Management – All debts raised by the Government come at a cost, which adds to the Government’s expenditure. Effective public debt restructuring and rationalization of liabilities aims at reducing such costs.
Process Improvement – Process Improvement provides a systematic approach to help Governments optimize their underlying processes to achieve more efficient reform results.
Management Information System – Information is power. Availability of correct information in the hands of government would facilitate effective decision making and taking appropriate corrective actions. This is ensured by a robust IT enabled system.
Capacity Development – With all the initiatives and reforms undertaken by the Government, it is necessary that adequate capacity building measures are undertaken both at institutional and individual level to realize enduring benefits of reform.
Institutional Strengthening – Realignment of the Government’s execution machinery to rightly capacitate various departments, strengthen the Government to undertake reform initiatives efficiently.