GS Paper 2:
Syllabus: Government Policies and associated issues.
Context:
The Single Nodal Agency (SNA) Dashboard of PFMS (Public Financial Management System) was recently launched by the Union Ministry of Finance.
What is SNA Dashboard?
It is a major reform initiated in 2021 with regards to the manner in which funds for Centrally Sponsored Schemes (CSS) are released, disbursed and monitored.
- Under this system, each state is required to identify and designate an SNA for every scheme.
- All funds for that State in a particular scheme are now credited in this bank account and all expenses by all other Implementing Agencies involved are affected from this account.
Significance of SNA Model:
- Ensures timely allocation of funds.
- Brought in greater efficiency in CSS fund utilization.
- Tracking of funds has become easier.
About PFMS:
- It was previously known as Central Plan Schemes Monitoring System (CPSMS).
- It is a web-based online software application developed and implemented by the Office of Controller General of Accounts (CGA), Ministry of Finance.
- Objective: To facilitate a sound Public Financial Management System for the Government of India (GoI) by establishing an efficient fund flow system as well as a payment cum accounting network.
- Coverage: At present, the ambit of PFMS coverage includes Central Sector and Centrally Sponsored Schemes as well as other expenditures including the Finance Commission Grants.
InstaLinks:
Prelims Link:
- About PFMS.
- Coverage of PFMS.
- What is SNA Dashboard?
Mains Link:
Discuss the significance of PFMS.
Q. 1) Consider the following statements:
- Single Nodal Agency (SNA) Dashboard was launched in 2011.
- PFMS (Public Financial Management System) is a web-based online software application developed and implemented by the Office of Controller General of Accounts (CGA), Ministry of Finance.
Which of the above statements is/are correct?
- 1 only.
- 2 only.
- Both.
- None.
Sources: Indian Express.