SRINAGAR: A training program for Accounts Officers and Drawing and Disbursing Officers of Agriculture and allied Departments on “Public Financial Management System” (PFMS) was today held at Directorate of Agriculture Lalmandi, here.
The training program was inaugurated by Imtiyaz Ahmad Wani, Director Finance Agriculture Production & Farmer’s Welfare Department.
In his inaugural address Director Finance said that PFMS is a web based online software application developed and implemented by PFMS Division, Ministry of Finance Government of India.
The portal helps in decision making and is actually a decision making support system and an online transaction platform, he said.
The Director said that the main objective of this system is to promote greater transparency and accountability in the implementation of centrally sponsored schemes. It provides real time information and monitoring mechanism of financial progress of any centrally sponsored scheme, he added.
It was said that the primary function of PFMS is to facilitate a sound public financial management system for the Government of India by establishing an efficient fund flow system as well as a payment cum accounting network. At present PFMS has interface with the Core Banking System (CBS) of over 300 banks operating in India.
Interface with the National Payment Corporation of India (NPCI) has also been developed that facilitates validation for Aadhar linked payments.

KR Desk