A Comparative Study of the Utilization of Financial Resources and Their Socio-Economic Impact by Current and Previous Indian Governments over the Past Decade

This research paper provides a comprehensive comparative analysis of the utilization of financial resources and their socio-economic impacts by the current and previous Indian governments over the past decade (2014–2024). The primary objective of this study is to assess the efficiency of financial management, priorities in government expenditure, social development initiatives, employment generation, corruption levels, and adherence to ethical governance principles. The study employs secondary data sourced from official government reports, economic surveys, policy documents, and other credible references to ensure accuracy and reliability. Furthermore, ethical governance principles derived from the Bhagavad Gita are integrated into the analysis to evaluate financial management and policy-making within India’s unique cultural and philosophical context. The findings reveal that the current government has demonstrated higher efficiency in utilizing financial resources, leading to greater social benefits, improved economic stability, enhanced social equity, and positive trends in key development indicators compared to the previous administration. This study highlights the significance of transparent, accountable, and ethically grounded financial management as a tool for sustainable socio-economic development. In addition, it emphasizes the relevance of these practices in fostering GDP growth and strengthening India’s position as the world’s fourth-largest economy. Overall, the research underscores the crucial interplay between ethical governance, effective financial planning, and socio-economic progress, offering valuable insights for policymakers, academicians, and financial analysts seeking to enhance governance quality and promote inclusive development in India.