Public financial management system

  • implementing authority- controller general of accounts under Ministry of Finance
  • End2end gateway for payments, tracking, monitoring, accounting, reconciliation and reporting.
  • to cover all transactions/payments under the Central Sector Schemes.
  • The complete monitoring of these schemes will require mandatory registration of all Implementing Agencies (IAs) on PFMS and mandatory use of Expenditure, Advance & Transfer (EAT) module of the PFMS.
  • for improved financial management in implementation of Central Plan Schemes so as to facilitate Just-in-Time Releases and monitor the usage of funds including information on its ultimate utilization.
  • aim is to provide unified platform for tracking last Mile utilisation of payments.
  • direct benefit transfer under various government schemes are monitored by this.
  • Central Project Monitoring Unit of PFMS will assist the Ministries
  • Centrally Sponsored Scheme (CSS)
    • Under Centrally Sponsored Scheme (CSS) a certain percentage of the funding is borne by the States in the ratio such as 50:50, 70:30, 75:25 or 90:10. It is implemented by the State Governments. Centrally Sponsored Schemes are formulated on subjects under the State List to encourage States to prioritise in areas that require more attention.Funds are routed either through consolidated fund of States and or are transferred directly to State/ District Level Autonomous Bodies/Implementing Agencies.
  • Central Sector (CS) Scheme
    • Central Sector Schemes are those that 100% funded by the Union government implemented by a central government agency. These schemes are mainly formulated on subjects within the union list.
  • Direct Benefit Transfer (DBT)
    • Transferring subsidies directly to the people through their bank/Post office account is Direct Benefit Transfer. It aims to timely transfer of benefit to the citizen by bringing efficiency, effectiveness, transparency and accountability in the Government system. Through the DBT Government intend to achieve electronic transfer of benefits, reduce delays in payments and most importantly, accurate targeting of beneficiaries, thereby curbing leakages and duplication.

 

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