{"id":87230,"date":"2026-02-11T13:09:30","date_gmt":"2026-02-11T07:39:30","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=87230"},"modified":"2026-02-11T15:38:36","modified_gmt":"2026-02-11T10:08:36","slug":"public-financial-management-system","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/public-financial-management-system\/","title":{"rendered":"Public Financial Management System"},"content":{"rendered":"<h2><b>Public Financial Management System Latest News<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Recently, the Minister of State for finance informed the Rajya Sabha about the Public Financial Management System (PFMS).<\/span><\/p>\n<h2><b>About Public Financial Management System<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is a <\/span><b>web-based online transaction system<\/b><span style=\"font-weight: 400;\"> for <\/span><b>fund management and e-payment<\/b><span style=\"font-weight: 400;\"> to implementing agencies and other beneficiaries.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is a <\/span><b>Centralized Transaction System &amp; Platform<\/b><span style=\"font-weight: 400;\">, providing end to end financial management services to all stakeholders.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is developed and implemented by the <\/span><strong><a href=\"https:\/\/vajiramandravi.com\/current-affairs\/cga\/\" target=\"_blank\">Controller General of Accounts<\/a><\/strong><span style=\"font-weight: 400;\"><strong><a href=\"https:\/\/vajiramandravi.com\/current-affairs\/cga\/\" target=\"_blank\"> (CGA)<\/a><\/strong>, <\/span><b>Department of Expenditure, Ministry of Finance<\/b><span style=\"font-weight: 400;\">, Government of India.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It <\/span><b>was started during 2009.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Function:<\/b><span style=\"font-weight: 400;\"> To facilitate a sound<\/span><b> Public Financial Management System<\/b><span style=\"font-weight: 400;\"> for Government of India by establishing an efficient fund flow system as well as a payment cum accounting network.<\/span><\/li>\n<\/ul>\n<h2><b>Key Features of Public Financial Management System<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It <\/span><b>tracks funds released under all Plan schemes of Government of India,<\/b><span style=\"font-weight: 400;\"> and real time <\/span><b>reporting of expenditure<\/b><span style=\"font-weight: 400;\"> at all levels of Programme implementation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The government has mandated <\/span><b>PFMS as a single platform for payment, accounting &amp; reconciliation of government transactions<\/b><span style=\"font-weight: 400;\"> and DBT.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Cash management modules: <\/b><span style=\"font-weight: 400;\">It has been introduced on PFMS for better fund management like <\/span><b>Single Nodal Agency<\/b><span style=\"font-weight: 400;\"> (SNA), <\/span><b>Treasury Single Account<\/b><span style=\"font-weight: 400;\"> (TSA), <\/span><b>Central Nodal Agency<\/b><span style=\"font-weight: 400;\"> (CNA) and <\/span><b>Single Nodal Agency Samyochit Pranali Ekikrit Shighra Hastantaran<\/b><span style=\"font-weight: 400;\"> (SNA SPARSH).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Grievance Redressal System<\/b><span style=\"font-weight: 400;\">: PFMS has introduced the <\/span><b>Customer Relationship Management (CRM) system<\/b><span style=\"font-weight: 400;\">, to strengthen the grievance redressal mechanism for PFMS users\/ beneficiaries.<\/span><\/li>\n<\/ul>\n<p><b>Source: <\/b><strong><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2226039&amp;reg=3&amp;lang=1#:~:text\" target=\"_blank\" rel=\"nofollow noopener\">PIB<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Public Financial Management System is a web-based online transaction system for fund management and e-payment to implementing agencies and other beneficiaries. Read more about Public Financial Management System, Function, Key Features, Latest News.<\/p>\n","protected":false},"author":24,"featured_media":87243,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[21,5312,22,23],"class_list":{"0":"post-87230","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-prelims-pointers","9":"tag-public-financial-management-system","10":"tag-upsc-current-affairs","11":"tag-upsc-prelims-current-affairs","12":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/87230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=87230"}],"version-history":[{"count":5,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/87230\/revisions"}],"predecessor-version":[{"id":87287,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/87230\/revisions\/87287"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/87243"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=87230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=87230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=87230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}