2019 · Q7
The Public Financial Management System (PFMS) is a web-based online software application designed, developed, owned and implemented by the
General KnowledgeCurrent Affairs
- ADepartment of Financial Services
- BInstitute of Government Accounts and Finance
- CController General of Accounts
- DNational Institute of Financial Management
Explanation
The Public Financial Management System (PFMS) is designed, developed, owned and implemented by the Controller General of Accounts (CGA), Department of Expenditure, Ministry of Finance. It began as the Central Plan Schemes Monitoring System (CPSMS) and tracks fund flow and direct benefit transfers across government schemes. It is not run by the RBI, NITI Aayog or the CAG. Hence the CGA, Ministry of Finance, is the correct answer.