The Finance Ministry said information technology systems of treasuries of seven northeastern states have been integrated with the centre’s Public Financial Management System (PFMS) and meaningful management information system, the IT systems of all North Eastern States’ treasuries (namely, Arunachal Pradesh, Manipur, Mizoram, Assam, Meghalaya, Sikkim, and Tripura) except Nagaland, have been integrated with PFMS.
PFMS is a Centralized Transaction System & Platform, providing end to end Financial management services to all stakeholders. CPSMS Transaction System. Program division (Sanction) DDO- Bill Preparation. PAO – Payments. State Government (Departments/Treasury etc.) Implementing Agency. (E-Payments and other transactions) Banks. External Systems (MCTS/OCEANS etc.) MIS Users. For Analytical Approach. UIDAI. Citizen. Post Offices.
About the Public Financial Management System
The PFMS, also known as Central Plan Scheme Monitoring System (CPSMS), tracks fund disbursement and ensures that state treasuries are integrated with the Centre to ensure money is send as and when required.
PFMS, administered by the department of expenditure, is an end-to-end solution for processing payments, tracking, monitoring, accounting, reconciliation and reporting. It is a web based application.
The PFMS platform compiles, collates and makes available in real-time, information regarding all government schemes, and, significantly, provides the government real-time information on resource availability and utilisation across schemes.
In addition, the platform will allow government expenditure to adopt a Just-in- Time (JIT) approach, with payments made only when they are needed.
The government has set a target to integrate PFMS with all state treasuries in current fiscal and implement Direct Benefit Transfer (DBT) for welfare and scholarship schemes.