STATE TIMES NEWS
Jammu: The Jammu and Kashmir government is setting up project management units at state and district level for effective roll out of the Centre’s Public Finance Management System.
The State Project Management Unit (SPMU) and District Project Management Units (DPMUs) will help in customisation of state-specific requirements, monitoring, implementation and capacity building related to roll out of Public Finance Management System (PFMS), according to an official order. The Union Government in December 2013 approved the national roll out of PFMS for all states and schemes by 2017.
The financial management platform PFMS aims at tracking fund flows to states and central departments on real-time basis and facilitating direct payment to beneficiaries among others.
The platform has a database of all recipient agencies and is integrated with State Treasuries for tracking of fund flow to the lowest level of implementation for plan schemes.
Jammu and Kashmir is among the states that have to implement the PFMS by March 31, 2017.
“Sanction is hereby accorded to the setting up of State Project Management Unit at state level and District Project Management Unit at each district for coordination, customisation of state specific requirements, monitoring implementation and capacity building in the state related to Public Finance Management System (PFMS),” Commissioner Secretary, Finance Department, said in the order.
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© 2017 State Times Daily Newspaper