Union Government Makes Use of Public Finance Management System Mandatory for Central Schemes
Posted on:30 Oct 2017 13:22:33
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30 October 2017 Current Affairs: The Centre has made the use of Public Finance Management System (PFMS) mandatory for all central schemes.
Finance Minister Arun Jaitley stated that making use of the PFMS mandatorily will ensure benefits of government schemes to reach the last mile.
The move would help in tracking and monitoring the flow of funds to the implementing agencies.
A total of 613 schemes of the central government will be covered under PFMS. The ambit of PFMS coverage includes central sector and centrally sponsored schemes as well as other expenditures including the Finance Commission grants.
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