Union Finance Minister Nirmala Sitharaman launched an electronic bill (e-Bill) processing system on Wednesday, with the goal of increasing transparency and expediting the payment process.
This move is in line with the government's ‘Ease of Doing Business (EoDB) and Digital India eco-system' initiatives. The Finance Minister announced this significant e-governance initiative in February's Union Budget 2022-23, which was tabled in Parliament.
Sitharaman stated that the electronic bill processing system will increase transparency, efficiency, and a paperless payment system by allowing suppliers and contractors to submit claims online that will be tracked in real time.
The electronic bill processing system was launched during a ceremony commemorating the 46th Civil Accounts Day.
Referring to the critical role of the Controller General of Accounts (CGA), the Finance Minister stated that the CGA has been managing public finance through the use of technology, preventing public money from being stolen and ensuring that benefits reach citizens directly.
Finance Secretary TV Somanathan stated in his remarks on the occasion that while the Public Financial Management System (PFMS) is a critical tool for the country's financial administrators, it is also the most significant citizen-centric initiative, particularly the new e-Bill system.
According to Somanathan, the new e-Bill system will further reduce time lags and serve as a model for accounts geared toward digital India and Ease of Doing Business.