Search Result for : Pfms

PTI  Expenditure Finance Commission (EFC) under the Ministry of Finance cleared 29 proposals of various ministries involving expenditure of about Rs 2.11 lakh crore during the last year.  Besides, Public Investment Board (PIB) headed by Expenditure Secretary cleared 12 proposals involving expenditure of Rs 28,673 crore. Of these, three proposals worth Rs 8,612 crore of Ministry of Power were cleared by the board during calender year 2016.  Proposals of Ministry of External Affairs and Ministry of Road, Transport and Highway involving investment of Rs 7,291 crore and Rs 6,461 crore, respectively, were also cleared, Department of Expenditure under Ministry of Finance said in its year-end review for 2016.  “During the period from January 1 to November 30, 2016, the EFC chaired by Expenditure Secretary recommended 29 investment proposals or schemes of various ministries and departments costing Rs 2,11,049 crore,” it ...

The Dollar Business Bureau As part of the government’s ongoing efforts to shift towards cashless transactions, the Urban Development Ministry has asked all the 4,041 statutory urban local bodies to move to e-payments as early as possible. These towns and cities make up for around 75% of the 40 crore population in urban areas of the country. “The Government of India’s message to the officials of these 4,041 urban local bodies was conveyed by Rajiv Gauba, Secretary - Urban Development, through interactive video-conferencing. Senior officials of concerned states also participated during the half day long interaction on various aspects of ensuring cashless transactions,” said an official release on Sunday. The officials at State as well as city level were asked to encourage internet ...

 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 ...