Public Financial Management System (PFMS) Achieves a Historical Record Breaking Volume of Digital Transactions

Public Financial Management System (PFMS)  is an ambitious project of Government of India being implemented by Controller General of Accounts, Ministry of Finance. PFMS has proved as a robust digital platform towards Prime Minister’s vision of DIGITAL INDIA.

On 28^th March, 2018, an amount of ₹ 71,633.45 crores has been digitally transacted/routed through PFMS Portal for98, 19,026 transactions. This is a historic record of number of digital transactions processedin a single day.

PFMS provides platform for efficient management of funds through tracking of fundsand real time reporting of expenditure and receipts through Treasury and Bank Interface. The line ministries/ departments utilize this platform to monitor the utilization of funds provided to the implementing agencies and states governments.PFMS is also used for Direct Benefit Transfer (DBT) payments under MGNREGA and other notified schemes of the Government of India.

PFMS has organically grown on the basis of performance and user acceptance. Its user base today includes Union Ministries/Departments, Implementing Agencies and State Governments. The ability of the platform to respond to ever expending user requirements is reflective of its robustness and utility.