DEFINITION

According to L. D. White “Fiscal Management includes those operations designed to make funds available to officials and to ensure their lawful and efficient use.”
According to Jaze Gaston “Financial Administration is that part of government organization which deals with the collection, preservation and distribution of public funds, with the coordination of public revenue and expenditure, with the management of credit operations on behalf of the State and with the general control of the financial affairs of public household”.
Even though these definitions cover some important aspects of fiscal management, it fails to project a comprehensive scope of financial administration. G. S. Lall states that financial administration is concerned with all the aspects of financial management of the State. Since public administration is more and more concerned with public affairs and public interest, the frontiers of financial administration are expanding and therefore there is a need for a comprehensive definition of financial administration. As an attempt towards this direction, the following definition is presented:

“Financial Administration includes all the activities which generate, regulate and distribute monetary resources needed for the sustenance and growth of the members of a political community.

Objectives of Financial Administration

And the objectives of Finance Administration are:
1. To ensure more transparency of work.
2. To ensure accountability.
3. To ensure responsibility of servants.
4. To encourage professionalism of public servants.
5. To reduce corruption of money.
6. Setting of Gained and Spend
7. To Ensure Validity of Buying
8. To Ensure the System of Taxes are Good Administrative