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5T Charter For Financial Reforms

Bhubaneswar: As part of the 5T Charter, the Department of Finance is implementing various measures to ease delivery of financial services to the people.  

5T Charter is team work, technology, transparency, transformation and time limit under which the Department of Finance has chalked out several programs, which are being implemented and monitored by Vishal Dev, Principal Secretary Finance, senior officials say.

Department of Finance will use Artificial Intelligence for periodic identification of the pensioners, for generation of digital life certificates and verification of identity for first pensioners. Work has been awarded and application under development stage, said an official.

The State Government pensioners drawing pension from different treasuries and banks would now be enabled to generate Digital Life Certificate through Aadhaar based biometric devices installed in all 165 treasuries of the State. The pensioners can also generate and submit a Digital Life Certificate at their place through the Jeevan Pramaan Portal.

With this initiative, the pensioners would no longer be required to be physically present before the Pension Disbursing Officer. It will mitigate the hardship faced by the aged and infirm pensioners who find it difficult to present themselves before the designated agencies to secure a life certificate.

The Department of Finance also implemented online processing of pension papers of retirement of employees of Aided Educational Institutions.

Notably, Odisha has been one of the few states in the country to implement the IFMS in the country with a focused approach and clear implementation strategy.

To maintain transparency in the transfer of public money, the Government has also adopted end- to- end digital transaction/accounting e-vouchers. Paperless transaction has been piloted in the two treasuries in Bhubaneswar so that there is no need for physical visit to treasury for doing any transaction with the government.

Now, the paperless transaction has been implemented in 5 District Treasuries- Ganjam, Khurda, Cuttack, Deogarh and Jharsuguda.

After presenting the Budget 2021-22 on digital mode to become the first State to do so, Odisha has developed a new system – Budget Execution Technique Automation (BETA) – to ensure effective monitoring of monthly and quarterly expenditure patterns online.

In a bid to provide the online platform to the departments to monitor their quarterly expenditure allocation and monthly expenditure plan, a module has been developed in BETA system for all the four quarters and indicative monthly plans pre-populated by the Department of Finance.

The government has also laid down guidelines for timely spending of budgetary grants through the Cash Management System (CMS), which was initially adopted in respect of the 10 large spending departments in 2010-11. It has now been extended to all departments which will continue to remain under the purview of CMS.

In order to monitor the amount of funds parked in banks, the Finance Department has rolled out the Bank Accounts Management System (SBMS).

For a more detailed study, and systematic monitoring of all bank accounts, the SBMS has been developed by the State Government. SBMS is helping out the Administrative Departments to track and monitor the scheme wise expenditure and parking of Government funds outside the Government Treasury.

With SBMS in operation, real time information of funds available in banks will be made available in the specific bank accounts at various levels. Earlier, mopping up resources out of funds parked in bank accounts was taken up and it has been a moderate move.

Besides, the Department of Finance has also implemented Geo-Tagged Digital Asset Register for online monitoring of the public assets.

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