PUBLIC FINANCIAL MANAGEMENT SYSTEM (PFMS) - 21st & 22nd November 2022
PFMS was developed using an architecture which was envisaged in 2009, and as more functionalities have been added over the last few years,
along with the ever-increasing depth and width of its operations, PFMS faces challenges of scalability and performance.
The Public Financial Management System (PFMS) is a web-based online software application developed and implemented by the Controller
General of Accounts (CGA), Department of Expenditure, Ministry of Finance, Government of India. PFMS started during 2009 with the objective
of tracking funds released under all Plan schemes of Government of India, and real time reporting of expenditure at all levels of Programme
implementation. Subsequently, the scope was enlarged to cover direct payment to beneficiaries under all Schemes. Gradually, it has been envisaged
that digitization of accounts shall be achieved through PFMS and beginning with Pay & Accounts Offices payments, the O/o CGA did further
value addition by bringing in more financial activities of the Government of India in the ambit of PFMS.
The primary function of PFMS today is to facilitate sound Public Financial Management System for Government of India by establishing an
efficient fund flow system as well as a payment cum accounting network. PFMS provides various stakeholders with a real time, reliable and
meaningful management information system and an effective decision support system, as part of the Digital India initiative of Government of
India.
