Celebrating the 49th Civil Accounts Day: Transforming Public Financial Management in India

The Finance Minister of India, Nirmala Sitharaman, will head the 49th Civil Accounts Day on March 1. The event will feature the release of a compendium on the digitalisation of public financial management. Arvind Panagariya will discuss India's economic future, highlighting PFMS's role in public expenditure management reform.

Finance Minister Nirmala Sitharaman is set to preside over the 49th Civil Accounts Day on March 1. This significant event will also witness the unveiling of a comprehensive report titled 'Digitalisation of Public Financial Management in India: The Transformative Decade (2014-24)'.

PFMS, the critical IT platform engineered by the Controller General of Accounts, serves as the backbone for government financial operations such as payment processing, accounting, and cash management. It has notably facilitated Direct Benefit Transfers, a cornerstone reform in public expenditure management.

Additionally, the 16th finance commission chairman, Arvind Panagariya, will address the gathering with insights on 'India in Global Economy: The Next Decade'. The Indian Civil Accounts Service has been pivotal in financial governance since its establishment in 1976, following a major restructuring of public financial administration.