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<h1>Public Financial Management System strengthens transparent, integrated digital government payments and supports harmonised Union State financial reporting.</h1> The 49th foundation day noted the Public Financial Management System (PFMS) as a nationwide digital infrastructure that digitises government payments, integrates with multiple external systems and financial institutions, and improves transparency and direct delivery of scheme benefits. Officials stressed the need for harmonisation of Union and State accounts, including Urban, Rural and Local Bodies, to enable consistent financial reporting, and reported new PFMS functionalities such as electronic utilisation certificates and an e Asset module for tracking capital assets.