Mentors Comments: Mention the clear definition of Public Expenditure Management. Reason what changed after liberalisation, that necessitated the changes in budget making, with examples. Also, provide ways to strengthen the budget-making process on the whole.  Answer: Public expenditure management (PEM) is the approach of prudent use of government financial resources so as to achieve good … Continue reading The public expenditure management is a challenge to the government of India in the context of budget-making during the post-liberalization period. Clarify it. (15 Marks)