Proved: IT prowess in payments
The Government has revolutionized the technology driven Public Finance Management System (PFMS) that has silently empowered India to be accountable, responsive and transparent.
Finance Minister Nirmala Sitharaman disclosed this at the inaugural session at the 44th Civil Accounts Day function in Delhi on 1 Mar 2020.
The PFMS has saved Rs.1 lakh crore for the country, added the Minister, pointing out that the PFMS has now come to be recognized as a distinct brand in the field of public finance management at various multilateral and global fora.
Sitharaman stressed that these achievements are not merely symbolic but has had a real and lasting impact on public service delivery system.
Speaking on the occasion, Dr. T V Somanathan, Secretary (Expenditure), emphasized that the Indian Civil Accounts Service Organization has proved its IT prowess by enabling PM-KISAN payments to over 8.46 crore beneficiaries directly into their bank accounts through Direct Benefit Transfer (DBT) payments.
He commended the service for the efficiency and accuracy with which it places expenditure and accounts data in the public domain for consumption of all stakeholders, at par with global standards.
Soma Roy Burman, Controller General of Accounts, stated that PFMS has evolved into a useful financial management tool for the government.
She assured that the service would constantly strive to achieve new heights in the field of payments, receipts, accounting and internal audit by effective use of digital technologies, and improve fiscal reporting protocol as part of Government Integrated Financial Management System (GIFMIS) for more effective fiscal management. fiinews.com
