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Governance

THE LIFEBLOOD OF GOVERNANCE: A COMPARATIVE REGULATORY ANALYSIS OF PUBLIC FINANCIAL MANAGEMENT IN LIBERIA AND INDIA

Volume IV Issue I /

THE LIFEBLOOD OF GOVERNANCE: A COMPARATIVE REGULATORY ANALYSIS OF PUBLIC FINANCIAL MANAGEMENT IN LIBERIA AND INDIA William M. Johnson, BSc Economics & MBA Supply Chain Management, Apeejay Stya University School of Management Sciences (India) Sam Siryon, BA. LL. B Honors, Apeejay Stya University School of Legal Studies (India) Download Manuscript doi.org/10.70183/lijdlr.2026.v04.95 Public finance is the fundamental mechanism through which governments translate political promises into tangible citizen outcomes. This article examines the critical importance of public finance in governance through comparative case studies of India and Liberia, drawing on fiscal exchange theory to analyze how digital transformation enhances state capacity. India has revolutionized its tax administration and monetary movement through a massive digital push, primarily leveraging the “India Stack” (a set of APIs) to create a transparent, fast-moving economy. Key platforms like the Goods and Services Tax Network (GSTN) and the e-filing portal facilitate real-time tax compliance, while the Unified Payments Interface (UPI) processed over 16 billion monthly transactions by late 2024, digitizing peer-to-peer and merchant transfers. Furthermore, Direct Benefit Transfer (DBT) links Aadhaar to bank accounts, removing middlemen and reducing leakages. Conversely, Liberia is digitizing its tax administration to improve revenue collection and reduce reliance on manual, cash-based systems. The Liberia Revenue Authority (LRA) is leveraging digital platforms like the Integrated Tax Administration System (LITAS) and mobile money partnerships (Orange Money/Ecobank) to make tax compliance more accessible for formal businesses and individuals, effectively shifting from multiple trips to tax offices to electronic filing and payment. This study evaluates India’s procurement guidelines; including the General Financial Rules (GFR), and Liberia’s Amended and Restated Public Procurement and Concessions Act (PPCA) of 2010, examining legal requirements for e-procurement, public disclosures, and conflict-of-interest penalties. Additionally, it analyzes the legal processes for awarding natural resource concessions in Liberia, which is crucial for economic development, compared to India’s regulatory frameworks for natural resources licensing. The Liberian case study highlights the “Yellow Machines” infrastructure initiative as an example of taxation made visible, while the Indian case examines financial management reforms and fiscal policy shifts in the energy sector. Findings suggest that digital transparency, administrative efficiency, and public engagement in financial management are essential determinants of governance effectiveness and sustainable development. The shift from cash-based to digital transactions improves accountability and reduces corruption in both jurisdictions.

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CORPORATE GOVERNANCE IN MODERN TIMES: CAN UTILIZATION OF TECHNOLOGY HELP ACHIEVE STRONGER CORPORATE GOVERNANCE

Volume I Issue II /

CORPORATE GOVERNANCE IN MODERN TIMES: CAN UTILIZATION OF TECHNOLOGY HELP ACHIEVE STRONGER CORPORATE GOVERNANCE Ahana Sen, 4th year, BA LLB Student at Christ Deemed to be University Delhi NCR Rahil Rahman, 4th year, BA LLB Student at Symbiosis Law School, Hyderabad. Download Manuscript ABSTRACT Technology has now reached all spectrums of life and has become an important part. It makes work more efficient and easier, so people from all walks of life have utilized it. Similarly, to survive in modern times, corporations have incorporated technology not only for their day-to-day functioning but also for governance. The usage of technology and digitalization affects companies and corporations tremendously. It has changed the previous governance system and has now put a new structure in place which ought to improve the governance and provide much more transparency and accountability. This is being done to gain the trust of the public. The utilization of technology comes at a cost and must be properly administered and laid out to be efficient. Especially talking about India, we have noticed and suffered through many corporate scams and those have turned out to be fatal for the country’s economy. Incorporating efficient technology to reduce corporate cyber risks remains a huge challenge, especially for a developing country like India. Even though bigger corporations have somehow been able to join hands with technology to ensure corporate governance, small corporations are still figuring out the same. The current paper discusses the various ways in which technology can provide better governance, the principles of corporate governance, that are transparency, accountability, efficiency, and expediency, the advantages as well as disadvantages of incorporating technology in corporate governance and provides a summary of what corporate governance is, how it came into existence in India and how it has evolved since then. Further, it provides examples of failed governance structures, the scams that came to light, and how one can learn from them and develop a better governance system. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume I, Issue II, Page 20 – 33 Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. Copyright © LIJDLR 2023 Recent content CORPORATE GOVERNANCE IN MODERN TIMES: CAN UTILIZATION OF TECHNOLOGY HELP ACHIEVE STRONGER CORPORATE GOVERNANCE AI ETHICS AND LEGAL COMPLIANCE-THE IMPERATIVE FOR RESPONSIBLE INNOVATION DRUGS PREVENTION LAWS IN INDIA-A CRITICAL ANALYSIS STATUS OF MID-DAY MEAL SCHEME IN BIHAR ROLE OF INDEPENDENT DIRECTORS IN MAINTAINING CORPORATE GOVERNANCE – CRITICAL EVALUATION IMMORAL TRAFFICKING OF WOMEN AND CHILDREN IN INDIA​

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