Parking of government funds restricts growth: Jaitley

Finance Minister Arun Jaitley on Wednesday said parking of government funds restricts growth and advancement in the Public Financial Management System (PFMS) helped to make it more transparent.

"Parking of government funds restricts growth. Each technological advancement in PFMS enables tracking whether the money meant for a project is being spent on it," Jaitley said at the inauguration of Mahalekha Niyantrak Bhawan, the new official premises of the Comptroller General of Accounts.

Jaitley also launched a one-stop solution for pensioners -- a web responsive service portal -- to ease access to information relating to the status of pension cases and speedy redressal of grievances.