Quick Summary
The Department of Expenditure (DoE), Ministry of Finance, has consistently advanced fiscal governance and public welfare through innovative financial management and policy reforms. A pivotal achievement is the implementation of Direct Benefit Transfer (DBT) via the Public Financial Management System
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FAQ :
The PFMS enables Direct Benefit Transfer (DBT) for government schemes, facilitating real-time, transparent fund transfers. It supports the Digital India initiative by tracking funds from release to beneficiary accounts and has integrated with 117 external systems and major banks.
The DoE has strengthened state finances by facilitating additional borrowing capacities, performance-linked incentives, and grants for disaster recovery, healthcare, and regional development, aligning with the 15th Finance Commission's recommendations.
Reforms include increased financial thresholds under the General Financial Rules (GFRs) and the release of a revised Procurement Manual in 2024, focusing on Ease of Doing Business, transparency, and clarity in procurement processes.
The Unified Pension Scheme (UPS) is a new social security reform for government employees, guaranteeing assured pensions and inflation-adjusted benefits. It is scheduled for implementation from 1st April 2025.
The DoE has ensured the timely release of funds to states affected by natural calamities like floods and landslides, including the advance release of ₹15,823.20 crore as the Central share of the State Disaster Response Fund for FY 2024-25.
The quantum of performance security for goods and services contracts has been reduced from a maximum of 10% to 5% of the contract value by amending the General Financial Rules (GFRs), 2017.
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