Para 1.4.2 — CAM

1.4.2 Public Financial Management System (PFMS) is a web-based IT platform on which various functions related to Government Financial Management is being carried out. It is an electronic system for processing sanction, bill preparation and processing, making payment, receipt management, carrying out Direct Benefit Transfer (DBT), conducting fund flow management and for undertaking financial accounting and reporting. With shift of these functions in the electronic environment, the basic accounting and financial controls have been in-built in the PFMS system, besides adding the features that are needed to enable accurate and automated accounting and financial reporting.