16th Finance Commission Chairman Shri Arvind Panagariya will also deliver the keynote address on “India in Global Economy: The Next Decade” during the second session

Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman will preside over the celebrations for the 49^th Civil Accounts Day to mark the Foundation Day of the Indian Civil Accounts Service, in New Delhi, on 1^st March 2025.

During the inaugural session,  a compendium on the Public Financial Management System (PFMS), titled “Digitalisation of Public Financial Management in India: The Transformative Decade (2014-24)” will also be released. PFMS, designed, developed and implemented by the organisation of Controller General of Accounts (CGA) is the key IT Platform for financial administration of the Government including payment, receipt, accounting, cash management, and Financial reporting. PFMS has provided the digital infrastructure for operationalising Direct Benefit Transfers, one of the key Public Expenditure Management reform of the Government.

In session two of the founding day celebrations, Shri Arvind Panagariya, Chairman, 16^th Finance Commission, will deliver the keynote address on “India in Global Economy: The Next Decade”.

The Indian Civil Accounts Service (ICAS) was established in 1976 following a significant reform in public financial administration. On March 1, 1976, the President of India promulgated ordinances separating the maintenance of Union Government accounts from audit functions, leading to the creation of departmentalised accounts. Since then, ICAS, led by the Controller General of Accounts (CGA), has been at the forefront of financial governance.

The ICAS will reaffirm its commitment to enhancing service delivery through comprehensive digitalization, ensuring secure and efficient financial management while leveraging advanced technologies for data-driven decision-making during the 49^th Foundation Day celebrations on March 1. The Public Financial Management System (PFMS), which now handles the entire budget for accounting of the Union Government and 65% of its budget for payments, is a testimony to the lead taken by the ICAS in this direction.

Officers and staff of the Indian Civil Accounts Organisation, Secretaries, Financial Advisers of Government of India, other Senior Officials of Department of Expenditure and other Ministries /Departments of Government of India, retired ICAS Officers, senior officers from banks and State Governments, among others, will also be attending the celebrations.

Public Financial Management System highlights expanded digital integration of government accounting, payments and data-driven financial management. A compendium on the Public Financial Management System (PFMS) will be released at the 49th Civil Accounts Day, highlighting PFMS as the principal IT platform for government financial administration-covering payment, receipt, accounting, cash management and financial reporting-and its role in operationalising Direct Benefit Transfers and managing a major share of union government accounting and payments, alongside a reaffirmed commitment to further digitalisation and data-driven financial management.