Q. Consider the following statements about the Public Financial Management System (PFMS): - It has been developed by the office of the Controller General of Accounts, Ministry of Finance
- Department of Expenditure is the nodal department administering the Public Financial Management
Which of the above statements is/are correct?
Answer:
Both 1 & 2
Notes: The Public Financial Management System (PFMS) was earlier known as Central Plan Schemes Monitoring System (CPSMS). It is a web-based online software application developed by the Office of Controller General of Accounts (CGA). Department of Expenditure is the nodal department administering the Public Financial Management.