Sitharaman urged that the CGA study whether or not it might be potential to make the federal government’s annual accounts extra user-friendly. She additionally requested the central authorities’s accounting adviser to have interaction with counterparts in states to advertise the adoption of the one nodal company (SNA) system.
A lot of the massive schemes are already routed via this method, which the minister mentioned has helped save greater than Rs 11,000 crore since 2021-22.
“The CGA and the Division of Expenditure ought to make sure that the SNA-SPARSH rollout is easily facilitated for all of the relevant schemes within the upcoming monetary 12 months and the CGA ought to handhold states in seamless onboarding and transition to SNA-SPARSH and persuade them about the advantages of this reform for fast adoption,” Sitharaman mentioned in her deal with on the forty ninth Civil Accounts Day celebrations in New Delhi.Larger TransparencySNA-SPARSH is a system for simplified fee and reconciliation for centrally sponsored schemes.The system has helped consolidate unspent steadiness parked in additional than 1.5 million financial institution accounts of implementing businesses throughout India into 4,500 financial institution accounts of the one nodal company, bringing higher transparency, Sitharaman mentioned. Referring to the Public Finance Administration System (PFMS), she mentioned it has facilitated direct monetary help to farmers via state-specific schemes comparable to Telangana’s Rythu Bandhu scheme, and swift and clear disbursement of assist throughout pure disasters just like the Kerala floods. The PFMS has additionally been leveraged for well timed and correct scholar funds in Maharashtra and pension scheme funds in a number of states, the minister mentioned.Onboarding of states into these platforms may also increase the richness of information, she mentioned. In her finances for 2024-25 introduced in July final 12 months, Sitharaman had urged enhancing governance, assortment, processing and administration of information and statistics with lively use of know-how instruments. The CGA, she mentioned Saturday, has the potential to work on this regard, provided that PFMS has an enormous dataset. “I’d additionally such as you to look at, in session with C&AG (Comptroller and Auditor Basic), whether or not it might be potential to make the annual accounts extra approachable and user-friendly and permit residents to analyse simply and generate customisable and easier studies,” Sitharaman mentioned. The finance minister famous that India’s digital fee programs and public monetary administration are being recognised globally, with many nations expressing curiosity in India’s digital fee interface (DPI).The achievements of the PFMS are a minimum of that of the DPI, she mentioned. “You must have interaction with completely different nations and inform them how you’ve gotten developed higher transparency in public accounts and public monetary administration, emphasising how the IMF has recognised it,” Sitharaman mentioned, including that a number of nations will probably be taken with it and to see how greatest they combine and match into their very own programs.
