Dimapur, May 16 (EMN): A two-day sensitisation programme for implementation of Public Financial Management System (PFMS), organised by Finance Department, Government of Nagaland, under the aegis of PFMS, CGA, Ministry of Finance, Government of India, was held on May 15 and 16 at the Directorate of Treasuries & Accounts, Kohima.
The resource person of the two-day programme was Senior Accounts Officer, K Sridharan, made a brief power point presentation of PFMS and its benefits to the State government.
PFMS initially started in 2009 as a central sector scheme of planning commission. It is an integrated financial management system of Controller General of Accounts, Government of India, and will be used for transaction preparation, bill processing, payment, receipt management, direct benefit transfer, fund flow management and financial reporting. All the ministries functioning grant in aid will register all implementing agencies on PFMS to track fund flow under all plan schemes of Government of India and real time reporting of expenditure at all levels of programme implementation.
The decision of Government of India is to upscale the coverage of PFMS for Central Sector (CS) and Centrally Sponsored Scheme (CSS) to facilitate a robust system for ensuring ‘just in time’ releases in respect of CS and CSS and complete monitoring of utilisation of funds under these two categories up to the end beneficiaries including information on end use of funds.
PFMS will provide various stakeholders with a real time, reliable and meaningful management information system and an effective decision support system as part of the Digital India, an initiative of Government of India.
The biggest strength of PFMS is its integration with the Zone Braking System in the country. At present, PFMS is having interface in addition to the core banking system of all Public Sector Banks, Regional Rural Banks, Major Private Sector Bank, Reserve Bank of India, India Post and Cooperative Banks.
The programme was chaired by Principal Director of Treasuries & Accounts, K Tiayanger Tzudir, and the opening remark was given by OSD (General) Finance Department, V Kezo. Senior Budget Analyst of Finance Department, Ketoulhou Metha delivered the vote of thanks. Altogether 43 departments participated in the two-day programme.
