What does PMFS mean? What is the full form of PMFS?
The Full Form of PMFS is Public Financial Management System.
To facilitate a sound Public Finance Management System for the Government of India by establishing an efficient fund flow system as well as a payment cum accounting network.
- Public Financial Management System (PFMS) initially started as a Plan scheme named CPSMS of the Planning Commission in 2008-09 as a pilot in four States of Madhya Pradesh, Bihar, Punjab and Mizoram for four Flagship schemes e.g. MGNREGS, NRHM, SSA and PMGSY.
- It is a flagship project of the Indian Civil Accounts Organization
- After the initial phase of establishing a network across Ministries / Departments, it has been decided to undertake National rollout of CPSMS (PFMS) to link the financial networks of Central, State Governments and the agencies of State Governments.
- The scheme was included in the 12th Plan initiative of Planning Commission and Ministry of Finance.
- In December 2013 the Union Cabinet approved the national roll-out of PFMS for all States and schemes for a period of four years till 2017
PMFS
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Public Financial Management System
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