Context: Recently, More than Rs36,659 crore has been transferred by using Direct Benefit Transfer (DBT) through Public Financial Management System (PFMS) in the Bank accounts of 16.01 crore beneficiaries during COVID 2019 lockdown.
Key Points

• The fund was released by the Controller General of Accounts (CGA) office, Department of Expenditure.
• Direct Benefit Transfer ensures that the cash benefit is directly credited into the account of the beneficiary, eliminates leakage and improves efficiency, the statement added.
• The afore said cash amount has been transferred by using robust digital payments technology PFMS (Public Financial Management System) for making DBT payments under Central Schemes (CS) /Centrally Sponsored Schemes (CSS) /CASP schemes .

About Public Financial Management System (PFMS)

• The Public Financial Management System (PFMS), earlier known as Central Plan Schemes Monitoring System (CPSMS), is a web-based online software application developed and implemented by the Office of Controller General of Accounts (CGA), Ministry of Finance.
• It was initially started during 2009 as a Central Sector Scheme of Planning Commission with the objective of tracking funds released under all Plan schemes of the Government of India, and real time reporting of expenditure at all levels of Programme implementation.
• Subsequently in the year 2013, the scope was enlarged to cover direct payment to beneficiaries under both Plan and non-Plan Schemes.
• In 2017, the Government scrapped the distinction between plan and non-plan expenditure.
• The primary objective of PFMS is to facilitate a sound Public Financial Management System for the Government of India (GoI) by establishing an efficient fund flow system as well as a payment cum accounting network.
• At present, the ambit of PFMS coverage includes Central Sector and Centrally Sponsored Schemes as well as other expenditures including the Finance Commission Grants.
• It is integrated with the core banking system in the country.
• It provides various stakeholders with a real time, reliable and meaningful management information system and an effective decision support system, as part of the Digital India initiative of GoI.