Public Financial Management System Current Affairs, GK & News

Public Financial Management System

Public Financial Management System (PFMS) was previously known as Central Plan Scheme for Monitoring Scheme (CPSMS) rolled out by the Planning Commission in the fiscal year 2008-09. This project was initially implemented as a flagship scheme in the states of Bihar, Punjab, Mizoram and Madhya Pradesh. The initial phase had one aim of establishing a ..

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PFMS portal processes record transactions on single day

The Public Financial Management System (PFMS) portal has processed record Rs 71,633 crore transactions on a single day. This was a historical record breaking volume of digital transactions achieved by PFMS. Public Financial Management System (PFMS) It is end-to- end solution for processing payments, tracking, monitoring, accounting, reconciliation and reporting. It is implemented by Controller ..

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Public Financial Management System to save interest costs of Government

The Public Financial Management System (PFMS) after implemented on full scale will help Union Government to save a significant amount on interest costs. It will allow the government to monitor and access the more than Rs.1 lakh crore of idle funds lying with it under various heads. Once government access these funds through PFMS, it ..

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