What is Public Financial Management System?
- Web-based online software application.
- Developed and implemented by the Office of Controller General of Accounts (CGA), Ministry of Finance.
- PFMS is an electronic fund tracking mechanism compiles, collates and makes available in real-time, information regarding all government schemes.
- It provides the government real-time information on resource availability and utilization across schemes.
Sub-Classification of Reserved Classes
- SC ruled in favour of “quota within quota” for SCs and STs.
- Giving preferential treatment to certain Scheduled Castes over others to ensure equal representation of all Scheduled Castes.
- The bench disagreed with the 2004 judgement of Supreme Court in E V Chinnaiah Vs State of Andhra Pradesh.
- The Court said that the states have complete powers to grant reservation benefits to SCs and STs under Article 15(4) , Article 341(1), Article 16(4) and Article 342(1).
- Article 15(4): States can create special arrangement to promote the interests of socially and economically backward classes.
- Article 16(4): The States shall make provisions to those inadequately represented in the government services.
- Article 341 (1): Power of President to declare a caste, tribe, race as Scheduled Caste in consultation with the Governor of the state.
- Article 342(1): Power of President to declare a caste, tribe, race as Scheduled Tribes in consultation with the Governor of the state.
NDC – Transport Initiative for Asia
- India Component of the Nationally Determined Contributions (NDC)–Transport Initiative for Asia (TIA) has been recently launched.
- Launched by: NITI Aayog
- Aim: To promote a comprehensive approach to decarbonize transport in India, Vietnam, and China.
- It is supported by the International Climate Initiative (IKI) of the German Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU).
- Duration: 4 Years
- Focus:
- Strengthening Green House Gas (GHG) and transport modelling capacities.
- Providing technical support on GHG emission reduction measures.
- Financing climate actions in transport.
- Offering policy recommendations on electric vehicle (EV) demand and supply policies etc.
Six years to PMJDY
- Central government’s flagship programme; Pradhan Mantri Jan Dhan Yojana completed its journey of six years.
- Launched: 28 August 2014
- Ministry: Department of Financial Services, Ministry of Finance
- Aim: To provide universal access to banking facilities to the people in the country.
- Comes under the National Mission for Financial Inclusion.
- It is one of the biggest financial inclusion initiatives in the world
- All bank accounts will be linked to a debit card which would be issued under the Ru-Pay scheme.
- Under first phase of this scheme, every individual who opens a bank account becomes eligible to receive an accident insurance cover of up-to Rs 1 Lakh for his entire family.
- Progress under PMJDY:
- Total PMJDY Accounts: 40.35 Crore
- Rural PMJDY accounts: 63.6%,
- Women PMJDY accounts: 55.2%
- Total deposit balances under PMJDY Accounts stand at Rs. 1.31 lakh crore
- Average deposit per account is Rs. 3239
- Total RuPay cards issued to PMJDY account holders: 29.75 Crore
29 August: National Sports Day
- It is observed to commemorate the birthday of Indian hockey legend Major Dhyan Chand.
- He was born on 29 August 1905 in the Prayagraj formerly Allahabad.
- Major Dhyan Chand was the captain of the Gold medal-winning Indian hockey team at the Berlin Olympics in 1936.
- The first National Sports Day was celebrated on 29th August 2012.
- On this day President confers National Sports Awards.
Current COVID19 Situation in India
QUIZ TIME
Under which of the following article States can create special arrangement to promote the interests of socially and economically backward classes?
- Article 15 (1)
- Article 15 (2)
- Article 15 (3)
- Article 15 (4)
Answer – D
Nationally Determined Contributions (NDC)–Transport Initiative for Asia (TIA) launched by:
- Ministry of External affairs
- NITI Ayog
- NHAI
- Ministry of environment
Answer – B
National Sports Day is celebrated on:
- 29 August
- 15 August
- 28 August
- 20 August
Answer – A
National Sports Day is celebrated on the birth anniversary of:
- Sachin Tendulkar
- Major Dhyan Chand
- Sunil Chhetri
- Mary Kom
Answer – B
Question of the Day
What are the key highlights of FRBM Act, 2003?
Answer in next session…
