49th Civil Accounts Day 2025 Celebrated in New Delhi
The Indian Civil Accounts Service (ICAS) marked its 49th foundation day today in New Delhi, with Union Finance Minister Nirmala Sitharaman serving as the chief guest. The event celebrated the achievements of the Indian Civil Accounts Organisation (ICAO) and highlighted the significant role of the Public Financial Management System (PFMS) in enhancing governance and financial transparency across the nation.
Key Figures Attend the Celebration
Alongside Finance Minister Sitharaman, the event was attended by Dr. Manoj Govil, Secretary of the Department of Expenditure, and Shri Shyam S. Dubey, the Controller General of Accounts (CGA). The gathering included various officials from the Indian Civil Accounts Organisation, financial advisers from the Government of India, senior officials from the Department of Expenditure, and representatives from banks and state governments. The diverse attendance underscored the importance of the occasion, which brought together current and retired officers to reflect on the progress made by the ICAO.
Launch of PFMS Compendium
During the inaugural function, Finance Minister Sitharaman unveiled a new compendium titled “Digitalisation of Public Financial Management in India: The Transformative Decade (2014-24).” This publication outlines the advancements made in public financial management and the impact of digitalization on governance. Additionally, a short film showcasing the evolution and achievements of the ICAO was screened, providing attendees with a visual narrative of the organization’s journey and milestones.
Achievements of PFMS Highlighted
In her address, Sitharaman emphasized the pivotal role of the PFMS in achieving key governance objectives, including reaching over 60 crore beneficiaries through direct delivery of more than 1,200 central and state schemes. She noted that the system has undergone significant transformation, integrating with over 250 external systems, such as GSTIN and PM Kisan, to ensure efficient fund management. The Finance Minister also pointed out that the volume of transactions processed through PFMS has surged from 2 crore payments in 2015 to an anticipated 250 crore by 2024, reflecting the system’s growing importance in financial governance.
Future Directions and Global Collaboration
Addressing the future of public financial management, Sitharaman referenced the upcoming Union Budget and the need for improved data governance and management. She encouraged the CGA to leverage India’s digital public finance expertise on a global scale, collaborating with other nations to enhance their financial governance systems. Dr. Manoj Govil echoed this sentiment, recognizing the CGA’s efforts in timely financial reporting and the importance of harmonizing accounts across various levels of government. The event concluded with a keynote address by Dr. Arvind Panagariya, Chairman of the 16th Finance Commission, who praised the PFMS as a vital digital infrastructure for efficient economic transactions.
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