New Delhi (IANS) - Controller General of Accounts (CGA) Archana Nigam has said that 98% of the total government transactions in the current fiscal, pegged at Rs 6.05 lakh crore in terms of value, have happened through the digital route.
"In 2016-17 so far, government payments to the tune of Rs 5.95 lakh crore (out of the total payment of Rs 6.05 lakh crore) were routed through the electronic mode. Almost 98% of total payments in value terms and 95% in volume terms have been routed through the e-payment mode," Nigam said.
"Introduction of e-payments through the banking system has facilitated prompt collections and payments," she added. Nigam said that Public Financial Management System (PFMS) has helped the government to effectively monitor utilisation of funds transferred to states and implementing agencies, especially in respect of national priority schemes, through Direct Benefit Transfer (DBT).
"Beneficiaries of these schemes now receive funds directly into their bank accounts at the local level. Consequently, there has been significant reduction in leakages and increase in savings to the government. Benefits of automation in the payment processes have led to further improvements in financial reporting and accounting," she said.
Nigam said, "Significant headway has also been made in the area of treasury integration. At present 23 states have been integrated. Efforts are on to achieve 100% integration by March 31." The Indian Civil Accounts Service (ICAS) was created by the amendment of the CAG (Duties, Powers & Conditions of Service) Act, 1973, on March 1, 1976.
With this major reform in public financial administration, the Comptroller and Auditor-General of India (CAG) was relieved of the responsibility of compiling the accounts of the Union government. For discharging the payment, accounting and internal audit function in the Union government, the office of the CGA was set up.