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{{Short description|Indian public financial management reforms}}
{{refimprove|date=October 2010}}
The '''Central Plan Scheme Monitoring System''' ('''CPSMS''') (now called '''Public Finance Management System''' or '''PFMS''')<ref>{{Cite web|title=PFMS|url=https://pfms.nic.in/static/NewLayoutCommonContent.aspx?RequestPagename=Static/Implementation.aspx|access-date=2020-09-28|website=pfms.nic.in}}</ref> is a [[Government of India]] public financial management reforms initiative which monitors programs in the social sector and tracks funds disbursed. Given the large number programs on which the money is spent, the CPSMS is an initiative by the Indian Central Government to ensure that the money is spent according to its intended purpose, and provide an accounting of same
==History==
The Economic Survey (2007–08) emphasized the need for effective financial monitoring of the Plan Schemes. The Finance Minister in his Budget Speech (2008–09) announced<ref>[http://gscurrentaffairs.com/gk/central-plan-schemes-monitoring-system-cpsms/ Announcement of CPSMS] {{webarchive |url=https://web.archive.org/web/20100929220209/http://gscurrentaffairs.com/gk/central-plan-schemes-monitoring-system-cpsms/ |date=September 29, 2010 }}</ref> the establishment of a comprehensive Decision Support System and Management Information System. The 11th Plan Document also recognized the deficiencies in the existing accounting system for the Plan Schemes and its inability to support informed planning, budgeting and effective monitoring of these schemes. It also underlined the need for a consolidated financial information system for the Plan Schemes.
The EFC of the [[Planning Commission (India)|Planning Commission]]
By 2009,
=== 2009-10 ===
By the 2009-
Central Plan Scheme Monitoring System has successfully integrated with the [[Core Banking Solution]] (CBS) of 150 banks all over India. It includes the
CPSMS
The CPSMS, after successfully completing the pilots
Planning Commission, Government of India
==Why CPSMS==
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MISs based on post facto data feeding suffer from drawbacks of inefficiencies, inconsistencies, gaps and perennial reconciliations, as they are not integrated with the process flow. CPSMS attempts to address this, and the associated issues of transparency and accountability related to the SPV mode of implementation, keeping all the advantages of the mode intact.{{cn|date=October 2015}}
==Modus
The system uses a web-enabled application<ref>[http://cpsms.nic.in CPSMS web portal]{{dead link|date=November 2016 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> developed in the office of Controller General of Accounts,<ref>[http://www.cga.nic.in Website of Controller General of Accounts]</ref> the apex accounting authority of the Government of India under [[Ministry of Finance (India)]]. In the first step, every agency receiving funds is registered on the system, including registration of all the bank accounts of the agency; this information is shared with the respective banks’ [[Core Banking System]] (CBS) for authentication.
== References ==
{{Reflist|2}}
[[Category:Government finances in India]]
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