NEW DELHI - President Pranab Mukherjee on March 14 said availability of timely and relevant financial and accounting data is critical requirement of the government for planning and managing the country’s finances and budget. He was speaking to a group of 16 probationers of Indian Civil Accounts Service (ICAS) who called on him at Rashtrapati Bhavan. He said the ICAS was carved out of the Indian Audit...
and Accounts Service in 1976 as part of reforms in India’s Public Financial Management System. “The idea was to separate statutory audit and accounts at the federal level. The President stated that he was happy to note that the system has worked well. The Civil Accounts organisation has, over the years, progressed in the right direction and has developed systems not only to keep pace with developments in information and communication technology but also to fulfill the aspirations of the common people,” a Rashtrapati Bhavan statement said quoting the President. “A strong and well-managed treasury function is the base for all kind of planning in governance and development and also the outcome of good governance.” (PTI)
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