The ambit of PFMS coverage includes central sector

　　Due to the monitoring of funds through PFMS, one can know the actual status of utilisation of funds by the multiple implementing agencies of the central and the state govements.72 lakh programme implementing agencies registered on PFMS.Lavasa also mentioned that PFMS is poised to develop as one of the biggest financial management systems of the world, which is critical for bringing about a transformational accountability and transparency in the govement and promoting good goveance.The PFMS Scheme has been rolled-out by the Controller General of Accounts (CGA) at the behest of Finance Ministry, Department of Expenditure as a cherished Public Finance Management (PFM) reform in the country.

　　PFMS pickedup great momentum in last two years and all the states are now on board with the central govement as far as acceptance of PFMS is conceed. The Finance Minister said that with the use of PFMS, there will not be much paperwork and it would go a long way in monitoring and China Post Cap Manufacturers tracking of any unnecessary parking of funds by the implementing agencies and thereby minimise the cases of delay and pending payments to a large extent. The ambit of PFMS coverage includes central sector and centrally sponsored schemes as well as other expenditures including the Finance Commission Grants, Finance Ministry said in a statement. He said that there is an integration of all state govement treasuries except that of West Bengal, which is also under process.

　　Jaitley said that PFMS, with the capability of providing real time information on resource availability, flows and actual utilisation has tremendous potential to improve programme/financial management, reduce the float in the financial systems by enabling just in time releases and also the govement borrowings with direct impact on interest costs to the govement. The scheme aims at promoting transparency and bringing about tangible improvements in the overall central govement financial management as well as implementation of various central govement schemes across the country.