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- Government will improve data governance, FM said digital India database will be used in data collection and processing
New Delhi8 minutes ago
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The government will use the database of several sectors under the Digital India Mission to improve data governance. Finance-minister Nirmala Sitharaman has told about this on 1 March. Under the Digital India Mission, the advanced tool of technology has been used to prepare sectoral database. The finance minister said that the Controller General of Accounts (CGA) could play a major role in this initiative.
At the event organized on the occasion of 49th Civil Accounts Day, Finance Minister Nirmala Sitharaman said, ‘In the union budget presented in July 2024, I suggested that different sector data for improvement in data governance, collection, processing and data and statistics management will be used through technology tools. CGA has the ability to work in this direction. The reason for this is that PFMS has a very big dataset.
The government wants to increase the focus on data collection, processing and management
The statement of the finance minister indicates that the government wants to increase the focus on data collections, processing and management for better fiscal transparency and governance. He emphasized the need to make annual accounts easier so that the common man’s reach could be possible.
Department of Expenditure will work closely with CGA
Nirmala Sitharaman said, “We would like the Department of Expenditure CGA to bring the annual account under the purview of people.” He said that PFMS has played a big role in financial tracking and fund management. This has helped in taking maximum benefit of the government’s expenses.
There has been a lot of savings from reforms in fund dysbergs and treasury management. Treasury Single Account (TSA) in Public Autonomous Bodies has saved Rs 15,000 crore in interest cost from 2017-18. Through the Single Nodal Agency (SNA) system, the states have helped in releasing the entire money on time.
Sitharaman said- Tax payers’ money is being used properly
Sitharaman said that the tax payers’ money is going on properly. There has been a big change in the accounting. Now good management of inflation and welfare scheme is being done. Direct benefit is being transferred for 1,200 centers and states schemes through PFMS. This has brought transparency in fund delivery.
