New Delhi [India], February 27 : Union Minister of Finance and Corporate Affairs Nirmala Sitharaman will preside over the celebrations for the 49th Civil Accounts Day to mark the Foundation Day of the Indian Civil Accounts Service in New Delhi on March 1, 2025, according to a Ministry of Finance release.
The ministry added that a compendium on the Public Financial Management System (PFMS), titled "Digitalisation of Public Financial Management in India: The Transformative Decade (2014-24)," will also be released during the inaugural session.
PFMS, designed, developed, and implemented by the Controller General of Accounts (CGA) organisation, is the key IT Platform for government financial administration, including payment, receipt, accounting, cash management, and Financial reporting.
PFMS has provided the digital infrastructure for operationalising Direct Benefit Transfers, a key government Public Expenditure Management reform.
In session two of the founding day celebrations, Arvind Panagariya, Chairman of the 16th Finance Commission, will deliver the keynote address on "India in Global Economy: The Next Decade."
The Indian Civil Accounts Service (ICAS) was established in 1976 following a significant reform in public financial administration. On March 1, 1976, the President of India promulgated ordinances separating the maintenance of Union Government accounts from audit functions, leading to the creation of departmentalised accounts. Since then, ICAS, led by the Controller General of Accounts (CGA), has been at the forefront of financial governance.
The ICAS will reaffirm its commitment to enhancing service delivery through comprehensive digitalization, ensuring secure and efficient financial management while leveraging advanced technologies for data-driven decision-making during the 49th Foundation Day celebrations on March 1.
The Public Financial Management System (PFMS), which now handles the entire Union Government's budget for accounting and 65 per cent of its budget for payments, is a testimony to the lead taken by the ICAS in this direction.
Officers and staff of the Indian Civil Accounts Organisation, Secretaries, Financial Advisers of the Government of India, other Senior Officials ofthe Department of Expenditure and other Ministries /Departments of the Government of India, retired ICAS Officers, senior officers from banks and State Governments, among others, will also be attending the celebrations, as per the release.
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