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The Next Gen Integrated Financial Management System (IFMS)

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The Next Gen Integrated Financial Management System (IFMS)

https://ifms.punjab.gov.in

Next Gen Integrated Financial Management System (IFMS) Punjab is a web-based solution used by Government of Punjab. It was designed to bring efficiency in financial planning and expenditure control in the State. In first year of its launch it has saved a significant amount of funds for the state. This state of art portal has brought various stakeholders such as Department of Finance, Treasuries, Administrative Departments, Accountant General (AG), RBI and Banks on a single platform with role=based Smart Dashboards. Smart Dashboards have provided a better Decision Support System to all the stakeholders.

Components:

    1. eBudget
    2. eTreasury
    3. eReceipt
    4. Management Information System (MIS)
    5. Audit Management System (AMS)
    6. Vehicle Management System (VMS)
    7. Govt. Property Management System (GPMS)

Innovative features:

  • Linkage of Disbursement & Receipt – eReceipt Portal is directly integrated with e-Treasury Portal for several categories like EMD & PDPLA deposits and Refunds, which means system always validates while disbursing the amount with the receipt deposited pertaining to it.
  • Linkage of Abstract Contingent Bill with Direct Contingent Bill – AC Bill is directly integrated with DC Bill in the new system & actual available balance is getting maintained by the system & also getting settled at AG office online through system only.
  • Complete IFMS and NSDL Integration: Using this integration, IFMS Punjab is checking status of NPS Employees daily in the morning. If an employee deactivated at the NSDL portal then DDOs cannot prepare his/her salary in IFMS. In addition NPS Employee Contribution is automatically forwarded to NSDL after salary disbursement of salary.
  • Virtual Account Number (VAN) of Punjab State Power Corporation Limited is getting maintained in the system. As per validation, only PSPCL accounts will get reflected while generating Electricity bills.
  • Integrated with latest version of e-Kuber (RBI) for disbursements at Treasuries.
  • eReceipt is accepting payments through all Payment Wallets i.e. Google Pay, PayTM, PhonePe, Airtel Money in addition to NEFT, RTGS, Debit Card, Credit Card and NetBanking. eReceipt Mobile App is also there for ease of depositing Receipts to Govt. Treasuries.
  • Stamps Management Module at eTreasury
      – Integration with Nasik’s Stamp System for capturing Stock details at Nodal Treasury i.e. Ludhiana.
      – Stamp Vendors are getting registered and availing discounts through online system.
      – Sale of Stamps is directly linked with Receipt deposited at eReceipt portal.
  • Receipt Targets: Monthly Receipt Targets assigned to HODs through system only.
  • Integrated with NABARD & GoI for sanctioning of funds by NABARD & GoI.
  • Integrated RBI’s Nagpur Fund Management System for capturing Daily Positioning Sheet details.
  • Real time monitoring with GST portal
  • Role based Smart Dashboard for Decision Makers

Integrations with Next Gen IFMS

Benefits

  • Using Receipt Target module, State Govt. has assigned monthly receipt targets to Receipt Departments like Excise, Taxation and Transport.
  • Vehicle Management System has saved more than 17 Cr. Rupees in first year of its launch.
  • Using GPMS, State Govt. can check availability of vacant office space at a particular location and hence can reduce office expense.
  • Smart Dashboards of eReceipt has helped State Govt. in recovery of 13.50 Cr from banks.
  • Introduction of Unique Payee Codes have reduced 98% of RNs (Return Note) from eKuber (RBI), hence facilitating seamless payments.
  • Integration with NSDL has improved data accuracy of NPS Employees and facilitating on time deposit of Employee Contribution.
  • Integration of Receipt and Refund, AC and DC Bills, EMD & PD/PLA Bills has reduced leakage of funds.
  • eReceipt Mobile App has provided deposit of Receipt with utmost ease.
  • Defacing of Challans have stopped repeat use of Challans at various Treasuries.
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