Define PFMS -Public financial management system?????

About PFMS(Public Financial Management System)

Government of India
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An Apex Accounting Authority –CGA(Controller general of Accounts) , Ministry of Finance
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Implemented the CPSMS central plan scheme monitoring system
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Monitors the programme and tracks the fund disbursed
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Ensures that the money is spent according to its intended purpose and provide an accounting system

A Central Plan Schemes Monitoring System towards establishment of a comprehensive Decision Support System and Management Information System has been implemented The intended outcome was to generate and monitor scheme-wise and State-wise funds releases and expenditures for the Central Plan and Centrally Sponsored Schemes etc.

PFMS formerly CPSMS, a central sector scheme of Planning Commission implemented by the Controller General of Accounts, Ministry of Finance, is designed to provide an end to end solution for efficient Management of releases at all levels or stakeholders.

A web or internet enabled software- serve as a common platform for monitoring of disbursements under the Central Plan Schemes of the Government of India with the goal of instituting a meaningful information system for all stakeholders and improving the payment system for the intended beneficiaries.