New Delhi [India], March 1 : Shyam S Dubey, Controller General of Accounts, on Saturday outlined the success of Public Financial Management System (PFMS) and said that 2014-2024 has been a transformative decade.
Speaking to ANI, on the sidelines of 49th Civil Accounts Day celebration in New Delhi, Dubey said, "PFMS is a state-of-the-art IT system which has been designed, developed, and implemented by the officer of Controller General of Accounts, under the active supervision of Department of Expenditure, Ministry of Finance."
"We have achieved success and all the schemes of the Govt of India and the DBT are implemented from the PFMS platform, because of which, money reaches the beneficiaries immediately in a safe and secure manner. PFMS has helped the government reach its goal of 100% digitalisation of the entire process. It has also helped the government in real time monitoring and utilisation of funds...2014-2024 has been a transformative decade," he added.
Earlier, in his welcome address of celebrations at Vigyan Bhawan, he gave details of the achievements of the organisation during the year in the area of accounts, Public Financial Management and capacity building.
Dubey outlined the organisation's demonstrated robustness during the COVID-19 pandemic, transferring over Rs 22.85 lakh crore, including DBT schemes.
Dubey further informed the gathering of the recently developed functionality of electronic utilisation certificate (e-UC) and e-Asset module of PFMS-SAMPATI, enabling digital recording, tracking and management of capital physical assets as mandated by the FRBM Act.
Union Finance Minister Nirmala Sitharaman also adressed the gathering. In her address on the occasion, she recognised the role played by PFMS in achieving the key goals of governance which included: reaching the last mile benefitting 60 crore beneficiaries, direct delivery of more than 1200 central and state schemes which includes 1100 DBT schemes, end-to-end digitization through integration with 250 plus external systems such as GeM, GSTIN, TIN 2.0, PM Kisan and many more.
Sitharaman said that PFMS has led to strengthening of cooperative federalism through integration of 31 state treasuries and 40 lakh programme implementing agencies enabling seamless financial management for millions of citizens ensuring timely and transparent disbursement of government funds.
The Union Finance Minister underlined PFMS as the network of networks with 650 financial institutions - RBI, NPCI, Public and Private sector banks - facilitating seamless fund transfers, with the volume of PFMS transactions has gone up exponentially from 2 crore payments in 2015 to 250 crore in 2024.
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