Context: Recently, the Union Minister for Finance & Corporate Affairs launched the Single Nodal Agency (SNA) Dashboard of PFMS (Public Financial Management System).
It was launched as a part of the Azadi ka Amrit Mahotsav (AKAM) celebrations by the Ministry of Finance.

About SNA Dashboard

• SNA Dashboard is a major reform initiated in 2021.
• Purpose: It is a system with regards to the manner in which funds for Centrally Sponsored Schemes (CSS) are released, disbursed and monitored.  
• Under this system, each state is required to identify and designate an SNA for every scheme. All funds for that State in a particular scheme are now credited in this bank account and all expenses by all other Implementing Agencies involved are effected from this account. 

Significance of SNA Model

• Firstly, this model ensures that the allocation of funds to States for the CSS is made in a timely manner and after meeting various stipulations. 
• Secondly, effective implementation of this Model has brought about greater efficiency in CSS fund utilization, tracking of funds, pragmatic and just-in-time release of funds to the States; ultimately all contributing to better Cash Management of the Government.

Need

• In order to give the stakeholders of the SNA model the necessary feedback and monitoring tools in the operation of the schemes.
• The Dashboard depicts releases made to different States by Ministries, further releases made by State Treasuries to the SNA accounts, expenditure reported by the agencies, interest paid by banks to SNA accounts etc. in intelligible, informative and visually appealing graphics.

Note: PFMS (Public Financial Management System), 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.