The North News
Chandigarh, February 18
Punjab Finance Minister Harpal Singh Cheema on Tuesday launched three key IT-based financial modules aimed at enhancing transparency, streamlining processes, and improving pensioner welfare in the state. Among the initiatives, the Pensioner Sewa Portal (PSP) is set to modernize pension management by expediting disbursements, reducing delays, and enabling real-time case tracking. “This portal will ensure seamless processing of pension payments and efficient grievance handling,” said Cheema, reaffirming the government’s commitment to pensioners.
Finance Minister Cheema also introduced the Non-Treasury Integrated Financial Management System (NT-IFMS), a new accounting framework designed to manage non-treasury funds for deposit works under the forest and works departments. The system will improve transparency, streamline accounting processes, and facilitate faster financial reporting. The third initiative, SNA SPARSH, aims to optimize fund transfers for Centrally Sponsored Schemes (CSS) through real-time integration with PFMS, the State IFMS, and RBI’s E-Kuber system. By preventing idle funds in bank accounts and improving cash management, the system is expected to enhance financial efficiency. Punjab successfully onboarded nine CSS projects under this mechanism by January 31, making the state eligible for a ₹400 crore incentive from the central government.
Cheema praised the finance department’s efforts in implementing these reforms, highlighting their role in driving digital transformation. The event was attended by senior officials, including Principal Secretary Finance Ajoy Kumar Sinha and RBI Regional Director Vivek Srivastava.
