<h1>Indian Civil Accounts Service Celebrates 49th Anniversary, Highlights PFMS's Role in Digitalizing Financial Management and Cooperative Federalism</h1> The 49th Civil Accounts Day was celebrated in New Delhi, marking the foundation day of the Indian Civil Accounts Service (ICAS). The event highlighted the transformative role of the Public Financial Management System (PFMS) in digitalizing financial management, enabling efficient and transparent transactions across 650 financial institutions. Union Finance Minister emphasized PFMS's role in cooperative federalism and seamless fund transfers, noting its exponential growth in transactions. Expenditure Secretary stressed the need for harmonizing Union and State Accounts. The Controller General of Accounts showcased achievements during the COVID-19 pandemic and introduced new digital functionalities for asset management. The event also featured discussions on India's economic growth potential.