Thiruvananthapuram: Kerala has become the first state in the country to successfully operate a state nodal account under the Public Financial Management System (PFMS) for smooth flow of funds for centrally sponsored schemes.css) State Nodal Account System has been implemented for release and monitoring of funds for CSS by the State Unit of AMRUT Mission.
The system has been made functional in nine mission cities of the AMRUT scheme in the state. Center launched PFMS to track funds released under all plan schemes and enable real time reporting of expenditure at all levels of program implementation. It is envisaged to have an efficient fund flow system as well as a payment-cum-accounting network.
For timely utilization and effective management of funds released to CSS, Indian government AMRUT Mission Director (Kerala) Renu Raj said, PFMS was launched.
“The State Government has designated AMRUT Kerala as the PFMS Single Nodal Agency (SN) for AMRUT and Smart City projects in the state. We have ensured that all the transactions from the center to the state in all the respective mission cities are done completely through the PFMS system. For this purpose a mother account has been created at the state headquarters of AMRUT and daughter accounts in the respective cities and the utilization of funds will be monitored through the dashboard,” she said.
We have become the first state and the first project wing of CSS in India to achieve this goal. NS Ministry of Housing and Urban Affairshandjob Indian governmentExpressed his appreciation for us, officially over the phone to the chief secretary, she said.
With AMRUT switching to PFMS, the flow of funds to cities will be simplified. “A major advantage of this transition is that the funds in the accounts of implementing agencies will not be dormant. Timely distribution of funds is critical for the successful completion of a project,” said AL Charles, deputy mission director of AMRUT.
The system will also enable real-time monitoring of the utilization of project funds at all levels from the Central Government to the State Government. In addition, interest will accrue in the nodal account for the entire project amount. With this, the AMRUT Rajya Mission will get direct control over the project expenditure.
The system has been made functional in nine mission cities of the AMRUT scheme in the state. Center launched PFMS to track funds released under all plan schemes and enable real time reporting of expenditure at all levels of program implementation. It is envisaged to have an efficient fund flow system as well as a payment-cum-accounting network.
For timely utilization and effective management of funds released to CSS, Indian government AMRUT Mission Director (Kerala) Renu Raj said, PFMS was launched.
“The State Government has designated AMRUT Kerala as the PFMS Single Nodal Agency (SN) for AMRUT and Smart City projects in the state. We have ensured that all the transactions from the center to the state in all the respective mission cities are done completely through the PFMS system. For this purpose a mother account has been created at the state headquarters of AMRUT and daughter accounts in the respective cities and the utilization of funds will be monitored through the dashboard,” she said.
We have become the first state and the first project wing of CSS in India to achieve this goal. NS Ministry of Housing and Urban Affairshandjob Indian governmentExpressed his appreciation for us, officially over the phone to the chief secretary, she said.
With AMRUT switching to PFMS, the flow of funds to cities will be simplified. “A major advantage of this transition is that the funds in the accounts of implementing agencies will not be dormant. Timely distribution of funds is critical for the successful completion of a project,” said AL Charles, deputy mission director of AMRUT.
The system will also enable real-time monitoring of the utilization of project funds at all levels from the Central Government to the State Government. In addition, interest will accrue in the nodal account for the entire project amount. With this, the AMRUT Rajya Mission will get direct control over the project expenditure.
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