Public Financial Management System, key for good governance: President
The Dollar Business Bureau In view of the increasing quantum of public expenditure, the Government of India is moving towards establishment of ‘Integrated Financial Management Information Systems (IFMS)’, besides setting up proper standards in accounting, auditing and budgeting. This was stated by Pranab Mukherjee, President of India, in his address to the probationers of Indian Defence, Civil, Railway and Post & Telecommunication Finance & Accounts Services, in Rashtrapati Bhavan, on Monday. Tthe President called upon the probationers to assimilate the global financial management practices and apply them appropriately in the Indian context. Stating that the Public Financial Management System (PFMS) is a key to good governance, the President called for an efficient tracking, monitoring and reporting system for proper management of public ...
