Find what is PFMS, how to register and login to Public Financial Management System of India website at pfms.nic.in. Also check the states covered under PFMS to promote good governance…
Public Financial Management System is an online software develop by the Controller General of Accounts, Department of Expenditure, Ministry of Finance, Government of India.
The idea brought to track the funds released through various central government schemes. This acknowledge proper expenditure at every level of scheme implementation.
Later on, this developed to directly deposit the funds to the beneficiary through government schemes which gradually became digitized. Every beneficiary under scheme required to update their KYC bank details. The amount under a particular scheme directly deposited in their accounts.
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The Payments and Exchequer controller, account of tax and non-tax receipts, preparation of fiscal reports, compilation of accounts, integration with the financial management system of the state are some major functions of Public Financial Management System.
The proper fund flow under the scheme and efficient accounting network is a main function of Public Financial Management System in India. Stakeholders in India can use the real time and reliable management information system with having a system for decision making.
The initiative from digital India has linked all 28 states and 2 union territories treasury systems. So that, the official websites communicate during the disturbing the funds under various central government schemes.
| Service | PFMS (Public Financial Mangement System) |
| Department Under | Ministry of Finance, Government of India |
| Official website | pfms. nic.in |
| Objective | Tracking NSP Funds under Central Government Schemes through Digitization |
| Connected with | 28 States and the 2 Union Territories with Legislatures |