The website https://pfms.nic.in/Home.aspx is the official website of the Public Financial Management System (PFMS), a web-based online software application developed and implemented by the Office of the Controller General of Accounts (CGA), Ministry of Finance, Government of India.
About Public Financial Management System (PFMS)
The Public Financial Management System (PFMS) is a comprehensive financial management system designed to facilitate sound public financial management in India. The system aims to provide a robust and integrated platform for managing the financial transactions of the government, including budgeting, accounting, and financial reporting.
Objectives
The primary objectives of PFMS are:
- To provide a single platform for financial management: PFMS integrates various financial functions, including budgeting, accounting, and financial reporting, into a single platform.
- To improve transparency and accountability: PFMS provides real-time information on financial transactions, enabling better transparency and accountability in public financial management.
- To enhance efficiency and effectiveness: PFMS automates various financial processes, reducing manual errors and increasing efficiency.
- To support decision-making: PFMS provides timely and accurate financial information, enabling informed decision-making.
Key Features
PFMS offers several key features, including:
- Budgeting: PFMS enables the preparation and management of budgets, including the allocation of funds and tracking of expenditures.
- Accounting: PFMS provides a comprehensive accounting system, including general ledger, accounts payable, and accounts receivable.
- Financial Reporting: PFMS generates various financial reports, including balance sheets, income statements, and cash flow statements.
- Payment Processing: PFMS facilitates the processing of payments, including salary payments, pension payments, and vendor payments.
- Receipt Processing: PFMS enables the processing of receipts, including tax collections, non-tax collections, and other receipts.
Benefits
PFMS offers several benefits, including:
- Improved transparency and accountability: PFMS provides real-time information on financial transactions, enabling better transparency and accountability.
- Enhanced efficiency and effectiveness: PFMS automates various financial processes, reducing manual errors and increasing efficiency.
- Better decision-making: PFMS provides timely and accurate financial information, enabling informed decision-making.
- Reduced errors and fraud: PFMS minimizes the risk of errors and fraud, ensuring the integrity of financial transactions.
