Best Practices in Financial Management: Integrated Financial Advisor for Defence

The institution of Financial Advisor in any organization is a salient pillar of good governance and accountability. In a government organization, Integrated Finance serves as the sine qua non for most efficacious utilization of available funds. The Ministry of Defence in particular, with its prodigious and multifarious expenditure, stands to gain enormously if its resources are harnessed in the most productive manner possible.

The system of Integrated Financial Advisor was established by the government in various ministries several years ago. The Ministry of Defence was also eventually covered by this scheme. The purpose was to expedite decision-making by delegating financial powers to the executive authorities. These powers were to be exercised in consultation with the Financial Advisors and the concept of authority with responsibility was underscored. Independent financial inputs would now be available to the executive authorities while exercising delegated financial powers.

In this Monograph, suggestions have been put forth to augment the existing system of Integrated Financial Advice for defence, by comparing it with similar institutions both within and outside the country. Their best practices have been distilled for optimum utilization by our own institutions, leading to a highly professional and progressive environment at par with global standards.

About The Author

Sumati Kumar is an officer of the Indian Defence Accounts Service, 1994 batch. Till recently, she was posted as Senior Fellow at the Centre for Defence Economics and Industry at the Manohar Parikkar Institute for Defence Studies and Analyses, New Delhi. She is a post graduate in Political Science and International Relations from Sreemati Nathibai Damodar Thackersey Womens’ University, Mumbai. She earned an M. Phil in Defence and Strategic Studies with distinction from the prestigious National Defence College, New Delhi. She has served in various capacities in the government, both on the finance and on the executive side. She has earlier been posted as Director Cabinet Secretariat, Registrar Ambedkar University, Delhi and Integrated Financial Advisor to Directors General of key defence organizations.