FM Sitharaman to Chair 49th Civil Accounts Day Celebrations in Delhi
Union Finance Minister Nirmala Sitharaman will chair the 49th Civil Accounts Day celebrations on March 1, the Foundation Day of the Indian Civil Accounts Service (ICAS), the Ministry of Finance said.
Arvind Panagariya, 16th Finance Commission Chairman, will give a keynote address on 'India in Global Economy: The Next Decade' in the second session of the event.
A compendium on PFMS will be launched during the inaugural session. PFMS is the government's core IT platform for managing payments, receipts, accounting, cash flows, and financial reporting and also facilitating DBTs one of the priority public expenditure reforms.
Founded in 1976, ICAS was established when the President of India disentangled government accounting from audit activities, creating departmentalised accounts. ICAS, under the leadership of the Controller General of Accounts (CGA), has since been at the center of financial governance.
The Ministry emphasized ICAS's dedication to digitalization and safe, effective financial management. PFMS currently processes 100% of the Union Government's accounting and 65% of its payments, demonstrating ICAS's leadership in public financial reforms.
The 49th Foundation Day will be an opportunity to reiterate ICAS's vision of harnessing cutting-edge technologies for data-driven decision-making, affirming its pivotal role in influencing India's changing financial landscape.
