Public Financial Management System PFMS
Public Financial Management System PFMS Details In Gujarati
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Public Financial Management System (PFMS) initially started as a Plan scheme named CPSMS of the
Planning Commission in 2008-09 as a pilot in four States of Madhya Pradesh, Bihar, Punjab and Mizoram for four Flagship schemes e.g. MGNREGS, NRHM, SSA and PMGSY. After the initial phase of establishing a
network across Ministries / Departments, it has been decided to undertake National rollout of CPSMS
(PFMS) to link the financial networks of Central, State Governments and the agencies of State Governments. The scheme was included in 12th Plan initiative of Planning Commission and Ministry of Finance. In December, 2013 the Union Cabinet approved the national roll out of PFMS for all States and schemes for a period of four years till 2017 as follows:
Public Financial Management System PFMS
Public Financial Management
(i) Total outlay of the scheme to be implemented through the O/o CGA would be not more than Rs. 1080 crore.
(ii) Four tiered project organization structure viz.
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Project Implementation Committee (PIC) at apex level
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The Central Project Management Unit (CPMU) at Centre
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State Project Management Unit (SPMU) at State level
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District Project Management Unit (DPMU) at district level to be manned through outsourcing
Mandate
The mandate given to PFMS by Cabinet decision is to provide:
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A financial management platform for all plan schemes, a database of all recipient agencies, integration with core banking solution of banks handling plan funds, integration with State Treasuries and efficient and effective tracking of fund flow to the lowest level of implementation for plan scheme of the Government.
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To provide information across all plan schemes/ implementation agencies in the country on fund utilization leading to better monitoring, review and decision support system to enhance public accountability in the implementation of plan schemes.
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To result in effectiveness and economy in Public Finance Management through better cash management for Government transparency in public expenditure and real-time information on resource availability and utilization across schemes. The roll-out will also result in improved programme administration and management, reduction of float in the system, direct payment to beneficiaries and greater transparency and accountability in the use of public funds. The proposed system will be an important tool for improving governance.
Enhanced Mandate of Ministry of Finance
Ministry of Finance, Dept. of Expenditure OM No 49 (7) /PF- I/ 2014 dated 02.12.2014
directed CGA to proceed with Digitization of Govt. Accounts through PFMS.
Modules to implement the Mandate
Modules developed /under development by PFMS for stakeholders as per the Union
Cabinet above mandate are as under:
I. Fund Flow Monitoring
(a) Agency registration
(b) Expenditure management and fund utilisation through PFMS EAT module
(c) Accounting Module for registered agencies
(d) Treasury Interface
(e) PFMS-PRI fund flow and utilization interface
(f) Mechanism for State Governments towards fund tracking for State schemes
(g) Monitoring of Externally Aided Projects (EAP)
II. Direct Benefit Transfer DBT modules
(a) PAO to beneficiaries (b) Agency to beneficiaries (c) State treasuries to beneficiaries
III. Interfaces for Banking
(a) CBS (b) India Post (c) RBI (d) NABARD & Cooperative Banks
