In a landmark move towards digital transformation, Punjab Finance Minister Advocate Harpal Singh Cheema inaugurated three crucial IT-based financial modules on Tuesday, aimed at bolstering financial transparency and efficiency in the State, alongside ensuring the welfare of pensioners.
While inaugurating the Pensioner Sewa Portal (PSP), the Finance Minister highlighted the Punjab Government’s unwavering commitment to its pensioners. He emphasized that this digital platform is designed to provide a comprehensive range of pension-related services.
“This portal will facilitate the seamless processing of pension disbursement cases from treasuries to banks, reduce delays in pension payments, offer real-time case tracking, and ensure efficient grievance handling,” said Finance Minister Harpal Singh Cheema while adding that the extensive database within PSP will further assist the State in making informed decisions for the welfare of pensioners.
Finance Minister Cheema also unveiled the Non-Treasury Integrated Financial Management System (NT-IFMS), a pioneering non-treasury accounting system to streamline the accounting processes of deposit works managed by the Forest and Works departments.
He outlined the benefits of NT-IFMS, explaining that the module is designed to handle the receipt and expenditure of funds not routed through the treasury. "This module will enhance transparency, ensure faster monthly submission and compilation of accounts at the AG office level, and support better decision-making through accurate reporting via sub-modules NT-MIS, NT-Accounting, NT-Billing, and NT-Receipt," added the Finance Minister.
Inaugurating SNA SPARSH, a new fund flow mechanism for Centrally Sponsored Schemes (CSS), involves real-time fund transfer to beneficiaries through an integrated framework of PFMS, State IFMS, and E-kuber system of RBI, the Finance Minister said that this mechanism prevents idle parking of state funds in bank accounts, minimizes the cost of borrowings, reduces float, and improves cash management efficiency at the state level.
He said that Punjab was included in the list of chosen states for SNA-SPARSH implementation in October 2024 and through strategic efforts, the Department of Finance successfully onboarded 09 CSS by January 31, 2025, making the state eligible for an incentive of Rs. 400 Cr from the Government of India.
In conclusion, the Finance Minister Harpal Singh Cheema extended his heartfelt congratulations and appreciation to the dedicated officers and officials of the Treasuries & Accounts, NIC, and PFMS Team for their relentless efforts in achieving these significant milestones.
Prominent amongst others Principal Secretary Finance Ajoy Kumar Sinha, Secretary Expenditure Vijay Namdeorao Zade, Director Treasury & Accounts Mohammad Tayyab, Deputy Accountant General Ravi Nandan Garg, Deputy Accountant General Manisha Toor, Additional Director T&A Simarjeet Kaur and Regional Director RBI Vivek Srivastava were also present on this occasion.