Public Financial Management System

It was launched in 2008-09 as a pilot project in 4 states - Madhya Pradesh, Bihar, Punjab and Mizoram for flagship schemes like MGNREGS, NHRM etc. It aimed at promoting transparency and bringing about tangible improvements in the overall Central Government Financial Management as well as implementation of various Central Government Schemes across the country.

• It was universalized in 2013 and is continuing since then. CGA (Controller General of Accounts) is the administering authority.
• The ambit of PFMS coverage includes Central Sector and Centrally Sponsored Schemes as well as other expenditures including the Finance Commission Grants. ....