[Answered]: To regulate and control state finances, establish…

To regulate and control state finances, establish a robust Public Finance Management (PFM) framework with clear legal guidelines, implement transparent budgeting processes, and enforce stringent financial controls. For financial institutions, set up a strong regulatory environment with oversight bodies, focusing on stability and consumer protection. To ensure funds are available for public service providers, establish clear funding mechanisms, including grants, subsidies, and potentially public-private partnerships.