The Tamil Nadu government will tap technology and switch over to an integrated financial system to help improve the state’s fiscal management, Deputy Chief Minister O Panneerselvam said on Friday.
The Integrated Financial and Human Resources Management System (IFHRMS), a first of its kind in the country, ensures digitisation of the treasury system, seamlessly integrating it with human resource and budget management, Panneerselvam, who holds the Finance portfolio, said while presenting the budget for the year 2019-20.
“The government recognises the importance of an efficient tax administration to improve resource mobilisation. I am glad to state that Tamil Nadu is undertaking major e-governance initiatives aimed at improving fiscal management,” he said.
He further adde that the initiative was formally rolled out by Chief Minister K Palaniswami last month, adding the entire state would fully migrate to IFHRMS by April. With the implementation of the system, the state would be able to narrow down the revenue deficit in future.