Every year on March 1, India celebrates Civil Accounts Day to mark the foundation day of the Indian Civil Accounts Service (ICAS). The year 2025 marks the 49th foundation day of ICAS, highlighting decades of progress in public financial management.
Compendium Release:
- On Civil Accounts Day 2025, the Union Minister for Finance and Corporate Affairs released a comprehensive compendium titled “Digitalisation of Public Financial Management in India: The Transformative Decade (2014-24)”.
Role of Public Financial Management System (PFMS):
- PFMS has been pivotal in achieving governance goals by reaching 60 crore beneficiaries and facilitating the direct delivery of over 1,200 central and state schemes (including 1,100 DBT schemes).
- The system integrates with 250+ external systems such as GeM, GSTIN, TIN 2.0, and PM Kisan, ensuring end-to-end digitization.
- PFMS, described as a network of networks, connects 650 financial institutions including the RBI, NPCI, and various public and private sector banks.
- The volume of PFMS transactions has surged from 2 crore payments in 2015 to 250 crore in 2024.
Strengthening Cooperative Federalism:
- PFMS has enhanced financial management across India by integrating 31 state treasuries and 40 lakh programme implementing agencies.
- This integration has ensured the timely and transparent disbursement of government funds.
Digital Innovations in PFMS:
- The electronic Utilisation Certificate (e-UC) and e-Asset module of PFMS-SAMPATI enable the digital recording, tracking, and management of capital physical assets, in accordance with the FRBM Act.
- Currently, PFMS handles the entire budget accounting for the Union Government and 65% of its payment transactions.
About the Indian Civil Accounts Service (ICAS)
Established:
- ICAS was established in 1976 after a significant reform in public financial administration.
- On March 1, 1976, ordinances were promulgated to separate the maintenance of Union Government accounts from audit functions, leading to the formation of departmentalised accounts.
Role & Leadership:
- Led by the Controller General of Accounts (CGA), ICAS has been at the forefront of financial governance in India.
- Over the past 49 years, ICAS has played a key role in strengthening public financial management and accountability in the country.