Sitharaman prompt that the CGA look at whether or not it might be doable to make the federal government’s annual accounts extra user-friendly. She additionally requested the central authorities’s accounting adviser to interact with counterparts in states to advertise the adoption of the only nodal company (SNA) system.
A lot of the massive schemes are already routed by this technique, 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 be certain that the SNA-SPARSH rollout is easily facilitated for all of the relevant schemes within the upcoming monetary yr 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 handle 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 stability parked in additional than 1.5 million financial institution accounts of implementing businesses throughout India into 4,500 financial institution accounts of the only nodal company, bringing better transparency, Sitharaman mentioned. Referring to the Public Finance Administration System (PFMS), she mentioned it has facilitated direct monetary help to farmers by state-specific schemes similar to Telangana’s Rythu Bandhu scheme, and swift and clear disbursement of help 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 enhance the richness of information, she mentioned. In her price range for 2024-25 introduced in July final yr, Sitharaman had prompt enhancing governance, assortment, processing and administration of information and statistics with energetic use of expertise instruments. The CGA, she mentioned Saturday, has the potential to work on this regard, on condition that PFMS has an enormous dataset. “I might additionally such as you to look at, in session with C&AG (Comptroller and Auditor Basic), whether or not it might be doable 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 techniques and public monetary administration are being recognised globally, with many international locations expressing curiosity in India’s digital fee interface (DPI).The achievements of the PFMS are at least that of the DPI, she mentioned. “You must interact with totally different international locations and inform them how you’ve got developed better transparency in public accounts and public monetary administration, emphasising how the IMF has recognised it,” Sitharaman mentioned, including that a variety of international locations will probably be fascinated about it and to see how greatest they combine and match into their very own techniques.
