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Public Financial Management System (PFMS) Achieves a Historical Record Breaking Volume of Digital Transactions

PFMS provides platform for efficient management of funds through tracking of funds and real time reporting of expenditure and receipts.


Government Press Release
Updated: 29-03-2018 20:23 IST
Public Financial Management System (PFMS) Achieves a Historical Record Breaking Volume of Digital Transactions

The line ministries/departments utilize this platform to monitor the utilization of funds provided to the implementing agencies. (Image credit: Wikipedia)

Public Financial Management System (PFMS) is an ambitious project of Government of India being implemented by Controller General of Accounts, Ministry of Finance. PFMS has proved as a robust digital platform towards Prime Minister's vision of DIGITAL INDIA.

On 28th March, 2018, an amount of INR 71,633.45 crores has been digitally transacted/routed through PFMS Portal for 98, 19,026 transactions. This is a historic record of number of digital transactions processedin a single day.

Type of Transactions

Number of Transactions

Value

(crores of Rupees)

DBT payments by Implementing Agencies

35,22,912

2,493.58

Other digital payments by Implementing Agencies

2,96,265

2,472.61

MNREGA DBT payments

59,04,143

340.82

Bharatkosh e-receipts

874

962.87

DBT Payments by PAOs

37,282

31.06

Other digital payments by PAOs

57,408

13,040.05

Transfers to State Governments

142

52,292.46

PFMS provides platform for efficient management of funds through tracking of funds and real time reporting of expenditure and receipts through Treasury and Bank Interface. The line ministries/ departments utilize this platform to monitor the utilization of funds provided to the implementing agencies and states governments. PFMS is also used for Direct Benefit Transfer (DBT) payments under MGNREGA and other notified schemes of the Government of India.

PFMS has organically grown on the basis of performance and user acceptance. Its user base today includes Union Ministries/Departments, Implementing Agencies and State Governments. The ability of the platform to respond to ever expending user requirements is reflective of its robustness and utility.

(This is a reproduced press release from the government of India as it is. Devdiscourse bears no responsibility towards grammatical or factual errors that may have been presented in the report.)

COUNTRY : India