The correct answer is E. More than one of the above.
The Comprehensive Financial Management System (CFMS) is a web-based integrated financial management system that will automate all financial transactions of the Bihar government. It will make all financial activities in the State online and paperless, ensure effective implementation of State projects, and manage state government finances including local bodies.
The CFMS will help to improve transparency and accountability in government spending, reduce corruption, and improve efficiency in the delivery of government services. It will also help to improve the state’s financial management capacity and make it more responsive to the needs of its citizens.
The CFMS is a major step forward in the modernization of the Bihar government’s financial management system. It will help to improve the state’s financial management capacity and make it more responsive to the needs of its citizens.
Here is a brief explanation of each option:
- Option A: The CFMS will make all financial activities in the State online and paperless. This will help to improve transparency and accountability in government spending, reduce corruption, and improve efficiency in the delivery of government services.
- Option B: The CFMS will not solve the problem of NPA of banks. This is a complex issue that requires a multi-pronged approach. The CFMS can play a role in improving the state’s financial management capacity, but it is not a silver bullet.
- Option C: The CFMS will ensure effective implementation of State projects. This will help to improve the state’s ability to deliver on its promises to its citizens.
- Option D: The CFMS will manage state government finances including local bodies. This will help to improve the state’s financial management capacity and make it more responsive to the needs of its citizens.