Which of the following is considered the guardian of the public purse?

Correct option is A

The correct answer is (A) Comptroller and Auditor General of India (CAG)

Explanation:
• The CAG is considered the 'Guardian of the Public Purse' and controls the entire financial system of the country at both the Central and State levels.
• According to Dr. B.R. Ambedkar, the CAG is the most important officer under the Constitution of India.

Information Booster:
• Article 148 provides for an independent office of the CAG.
• The CAG's duty is to uphold the Constitution of India and laws of Parliament in the field of financial administration.

Additional Knowledge:
• Finance Commission (Option B): Constituted under Article 280 to recommend the distribution of tax revenues between the Union and States.
• Finance Minister (Option C): The head of the Ministry of Finance, responsible for drafting the budget and economic policy.
• Public Accounts Committee (Option D): A parliamentary committee that examines the audit reports submitted by the CAG.