Know About PFMS... explain and functionalities

What is PFMS:
Public Financial Management System is a Central Sector Plan scheme of the M/o Finance, Dept. of expenditure.
PFMS is being implemented by the Office of Controller General of Accounts which is the apex accounting authority of the Government of India under Ministry of Finance with the name- ”CPSMS” w.e.f 1.4.2008.& renamed “PFMS” W.E.F. 1.4.2014
The complete technical support viz. application development, database administration, hosting of portal etc has been entrusted to NIC.
The mandate for  PFMS:
Hon’ble Finance Minister announced the scheme in his budget speech during 2008
Expenditure  Finance  Committee  of  the Planning  Commission  approved the implementation of PFMS
Secretary (Expenditure), Ministry of Finance, New Delhi  asked all Ministries to implement PFMS
Implementing Authority:
The office of the Controller General of Accounts (CGA), which is the apex accounting authority of the Government of India under the Ministry of Finance, is implementing the Public Finance Management System in the entire country.
Objectives of PFMS:

1. Tracking of the flow of funds from the Centre to the lowest level of implementation- both under Treasury route & SPV route.
2. Registration of all agencies receiving plan funds with their bank accounts at all tiers of operation.
3. Payment to ultimate beneficiaries through banking channel
4. Reduction of float/ funds in the agencies’ bank accounts and “Just in time” provision of funds to agencies, based on floats/ funds available.
5. Capturing component-wise expenditure on a real-time basis at all tiers of implementation, including Panchayats and villages.
6. Decision Support System (DSS) to all levels of programme administration (Centre, State, District & Local Government, i.e. Panchayat / Municipality)
7. Enhance transparency & accountability in public expenditure.

Process flow for use of PFMS:

1. All Ministries/Departments are required to register their grantee

agencies/institutions with bank account on PFMS portal.

2. On approval of agency by the PD/ULA/Super Admin, bank account

travels to CBS and hit there and if it is correct it gets validated.

3. Sanction-IDs and Sanction Orders in favour of grantee institutions

are generated on the portal. 

4. The detail of releases is captured by the system on a real-time

basis after payment has been released.

Features of PFMS:

1 Integrated with Banks, Post Office, State Treasuries,   Accounting

& MIS Systems of some of Central  Ministries  & State Govts.

2 Functions as a Scheme, Budget & Funds Management System

3 Masters & Beneficiaries Management System

4 Accounting & Reconciliation System

5 Serves as an E-Payment Gateway  including  Direct benefit transfer

6 Facilitates payment from any level of the scheme

hierarchy/implementation

7 Facilitate & increase transparency

PFMS Portal:

* The PFMS is being implemented through the web-based application

developed and deployed by the office of the Controller General of

Accounts.

*  PFMS Portal can be accessed by login through http://pfms.nic.in

The detailed information about PFMS is available on the home page of

this Portal.

* All details of releases of fund & expenditure are captured on the

Portal.

Main reports in PFMS Portal:

1.Agency wise releases/expenditure/Transfers/Advances

2.State wise releases/expenditure/Transfers/Advances

3.District wise releases/expenditure/Transfers/Advances

4.Scheme wise releases/expenditure/Transfers/Advances

Reports in details:

Source PFMS Portal

Download Facility in Different Formats:

Source PFMS Portal

Unique Features:

1. The system is capable of comprehensive reporting

2. Information is captured on a real-time basis without any backlog of entries for accounting and payments

3. Automated bank reconciliation statement through CBS with Banks and Post Offices

4. Payments are made on the right time to right person under the right head of expenditure

5. The system is up-to-date for tracking of expenditure 

6. Better management of funds

7. To avoid duplicate entries and inconsistencies in reporting to Govt. Of India.

8. Can generate real-time utilisation certificates if desired

The benefit derived from PFMS:

1. It captures all schemes operated by civil ministers with the budget provision on the PFMS portal.

2. It provides a common platform which can provide details of ministry wise, scheme-wise,state-wise and agency-wise sanction issued and releases made both through the treasury route and the special purpose vehicle route.

3. The releases & expenditure statement along with per cent utilization vis-à-vis the BE can be generated on a daily/monthly basis.

4. All releases to the North-East States are available indicating Ministry-wise/scheme-wise and Agency-wise reports.

5. It distinguishes between releases/transfer of funds and final expenditure incurred.

6. The system provides a comparative statement of releases made in the corresponding period of previous years.

7. The system can indicate the detail of all such agencies (including NGO’s) drawing Grants from more than one scheme/ministry/department.

8. All sanction can be tracked right from its inception in the Program  Division, the movement to DDO for bill submission, to PAO for payment, and to bank with cheque/advice detail.

9. Report on sanction issued, sanction settled and sanction pending is available to all users. A tendency can also be generated from the system. The tracking of sanction and pendency reports are very effective tools for regular monitoring.

10. Sanction order is being generated through the system. The inbuilt “draft sanction modules” reduces the data entry work, typing work and entry related error in the preparation of sanction.

11. Sanction order issued through PFMS is available to beneficiary states / implementing agencies/entities & to the individual to trace their releases.

12. Universal application of PFMS software covering all Plan schemes of Government of India reduces the proliferation of local software and portals running for different schemes at the central and states level.

Benefits to state government:

1. Provide detail of all grants received by the state from different central ministries under a different scheme.

2. Provide details of plan grant received through the Treasury transfer, special purpose Vehicles, societies/, Autonomous bodies/Ngo's an individually registered in the state.

3. Provide details of plan grants directly received by a particular District, district societies/autonomous bodies & NGOs located in the district.

4. Capturing component-wise MIS on the releases made by states/ district/block level implementing agencies.

5. Capturing component-wise real-time based expenditure incurred at various level of implementation. Various implementing agencies at the state, District, Block and below level will generate sanction-ISs on the PFMS system and component-wise expenditure would be captured on an online real-time basis duly reconciled with a banking transaction.

6. On full implementation of PFMS, customized dashboards for management at all levels will be available to monitor the program implementation on an online basis.

Main modules of PFMS:

1. Sanction Generation Module

• All sanctions for Plan schemes at PD level are generated on this Portal.

2.  Agency registration module:

• Agencies get mapped in scheme hierarchy.
• Level wise bank account balances & daily transactions available.

3.  Expenditure filing module:

• Component-wise Fund Utilization available - Expenditure/Advances/Transfers.
• Cheque validation facility for ensuring exp. filing.

4. e-Payment module:

• Direct credit to beneficiaries (scheme & bank independent).
• e-transfers to vendors, employees & other institutions.
• Ensures compulsory expenditure filing.

5.  Treasury integration

Thank you...
On the next blog, I will tell you about these above five points...
Till then keep learning and be smarter...

100 Motivational Quote That Really Change Your Life..Part 2

1. Dirty sneakers are not a problem dirty mentality is!

2. I know what I bring to the table... So believe me, I'm not afraid to eat alone.

3. We fall. We break. We fall. but then, We rise. We heal. We overcome.

4. Wrong is wrong even if everyone is doing it. Right is right even if no one is doing it.

5. Do what is right not what is easy.

6. Stop calling it a dream it's time to call it a plan.

7. Hustle until your haters ask if you are hiring.

8. The hardest prison to escape is in your mind.

9. Don't confuse education with intelligence.

10. If you want to change your life, change your priorities.

11. The things about smart people are they sound crazy to dumb people.

12."The best teachers are those who show you where to look, but don't tell you what to see." - Alexandra K. Trenfor

13. It's not what we have is life but who we have in life that matters.

14. Deal with your problems, before they deal with your happiness.

15. Fear is just an illusion.

16. Set your goals, be committed and everything will be clear.

17. Nothing happens to you. Everything happens for you. Find your reasons.

18. My only tow constants are to challenge myself and to try not to repeat myself.

19. One day all those early mornings and late nights will pay off.

20. Never doubt yourself.

21. Sometimes being strong is your only option.

22. Remember: The day you plant the seed is not the day you eat the fruit. Be patient. Be humble. Keep moving forward and know that all this hard work you're putting in day and night will produce the amazing results you've been looking for. Your time is coming. Do not give up.

23. Loyalty is rare. If you find it, Never let it go.

24. Excuses don't build empires.

25. Every person may not be brilliant but there is a brilliance in every person.

26. "Don't raise your voice, improve your argument."

27. When your parents are not rich but still afford to give you a beautiful life. Appreciate their sacrifices.

28. Never be a prisoner of your past. It was just a lesson, not a life sentence.

29. If you kick me when I'm down, you better pray I don't get up.

30. When you're a good person, you don't lose people, people lose you.

31. Your comeback will be greater than the hell you just went through!

32. Don't get burned twice by the same flame.

33. If you focus on the hurt, you will continue to suffer. If you focus on the lesson, you will continue to grow.

34. It's never too late for a new beginning in your life.

35. When your burning desire for success is greater than your deepest fear of failure, You can create anything in your life.

36. Prepare while others are playing.

37. Everything happens for a reason. Don't question the process, trust it and be patient.

38. Standing alone is better than standing with people who don't value you.

39. Whenever I want something, there's nothing that can stop me from getting it.

40. If you do what you have always done, you will get what you have always gotten.

41. Risking is better than regretting.

42. Challenge yourself it's the only path that leads to growth.

43. If you are unhappy, change something. Quit your job. Move. Leave your miserable relationship. Stop making excuses. You are in control.

44. Friendship is the heart's charging point.

45. Whenever you feel alone, be with a friend who has no phone!

46. In silence, you feel the message of God.

47. Let no family dwell on separation and loneliness.

48. It is very easy to be wrong, but very difficult to be right!

49. A real man isn't defined by the number of girls he had, but by the number of girls who cried when he told them "I'm sorry. I'm committed. AND I LOVE HER SO MUCH."

50. When you come to a point where you have no need to impress anybody, your freedom will begin.



Thank you...

100 Motivational Quote That Really Change Your Life..Part 1

1. If plan A doesn't work, you can still use the other 25 letters of the alphabet.

2. Circumstance doesn't change responsibility.

3. The struggle you are in today is developing the strength you need for tomorrow, never give up.

4. Obstacles are challenges for winners and excuses for losers.

5. Everybody wants to be diamonds, but very few are willing to get cut.

6. I want to see what happens if I don't give up.

7. Life begins at the end of your comfort zone.

8. Everyone wants to be a beast until it's time to do what a real beast does.

9. Be the reason someone believes in the goodness of people.

10. Have a dream worth more than your sleep.

11. The person you are destined to become is the one you decide to be.

12. It always seems impossible until it's done.

13. Be strong. You never know who you are inspiring.

14. Remember, most of your stress comes from the way you respond, not the way life is. Adjust your attitude, and all that extra stress is gone.

15. I don't care what other people think of me. I enjoy my life with my own rules.

16. Never make fun of someone who speaks broken English. It means they know another language.

17. Results happen over time not overnight. Work hard and stay focused.

18. The climb is tough but the view from the top is priceless.

19. Some times you will never know the value of a moment until it becomes a memory.

20. If you are not ready to die for it, then forget the word "FREEDOM".

21. You don't drown by falling in the water. You are drawn by staying there.

22. The number one skill in life is not giving up.

23. No one is you and that is your power.

24. Shut up. Sit down and observe. Lift is trying to tell you something.

25. "Dead people receive more flowers than living ones because regret is stronger than gratitude." - Anne Frank

26. No matter how good a person you are, you are evil in someone's story.

27. It's not about talent. It's about effort.

28. Control your own destiny or someone else will.

29. Invest in ideas and business. Not in emotion and people.

30. A diamond is just a piece of charcoal that handles stress exceptionally well.

31. In the end, we only regret the chances we didn't take.

32. All the hustle late nights missed parties early mornings will be worth it.

33. Spend time with people who are good for your mental health.

34. Success is a lonely road and only a few dare to take it.

35. Focus on what you want. Everything else is a distraction.

36. If you seeking success, then be disciplined, consistent and persistent.

37. Getting your first degree after 21 is still an achievement. Being married after 30 is still beautiful. Starting a family after 35 is still possible. Buying a house after 40 is still a boss move. Don't let people rush you with their timelines!

38. If you get angry stay silent.

39. Never let someone get comfortable disrespecting you.

40. God's plan bigger than your past.

41. Exercise is a celebration of what you can do. not a punishment for what you ate.

42. I've failed over and over and over again in my life and that is why I succeed. - Michael Jordan

43. Success is never owned, it is rented and the rent is due every day.

44. Your future depends on how you react to negative experiences.

45. Accept what is. Let go of what was. And have faith in what will be.

46. Move in silence, Only speak when it's time to say checkmate.

47. You can not heal in the same environment where you got sick. Be prepared to change.

48. Count your blessings, Not your problems.

49. The rules of life are simple: Hunt or get hunted.

50. The best things in life are to go ahead with all your plans and your dreams, to embrace life and to live every day with passion, to lose and still keep the faith and to win while being grateful. - Charlie Chaplin.

Contd.......

25 Fun Tech Facts..

1. The first computer mouse was made of wood, invented by Doug Engelbart in around 1964.
2. The first ever domain to be registered, symbolics.com is still in existence. 
3. Around the year 1500, Leonardo da Vinci sketched plans for a robot.
4. The word robot comes from the Czech "ROBOTA" in English, robota means to "Forced Labour".
5. The first ever VCR was the size of a piano, invented in 1956
6. The first alarm clock could only ring at one time of the day, 4:00am.
7.  Nov 30 is known as "Computer Security Day" in the tech world.
8. The word engineer comes from the Latin word "Ingeniare" which mean 'cleverness'.
9. Firefox web browser logo is actually a red panda, not a fox because the English word for the red panda is 'Firefox'.
10. On an average work day, a typist's fingers travel about 12.6 miles.
11. In 1822, Charles Babbage created the first computer.
12. 86% of people try to plug their USB devices upside down.
13. In mobile games, 60% of all revenue came from only 0.23% of people.
14. Amazon.com was previously known as cadabra.com.
15. In 1999, PayPal was voted as one of the top ten worst business ideas.
16. 97% of people type in random words on Google, just to see if they spelt it right.
17. The word "Android" means a human with a male robot appearance.
18. The Comic Sans font is widely known as the worlds most hated font.
19. The first commercial text message was sent in Dec 1992.
20. Technophobia is the fear of technology.
21. Around 20% of all youtube videos are music related.
22. Remember MySpace? well, it still has over 200 million registered users.
23. 60% of LinkedIn members have clicked one of their adverts.
24. The most expensive number ever sold was a mobile phone number, 666-6666, which was put up for auction and sold for $2.7 million!
25. Google's first ever Tweet on Twitter was in February 2009 and reads "I'm 01100110 01100101 01100101 01101100 01101001 01101110 01100111 00100000 01101100 01110101 01100011 01101011 01111001 00001010". Translating from binary into English, this tweet says "I'm feeling lucky"