AK Antony dedicates Financial Information System (FIS) to Indian Navy

Sunday, August 12, 2012
India Defence Minister AK Antony (right) dedicating
the FIS to Indian Navy, the chief of Naval Staff  Admiral
Nirmal Verma (right) also seen
New Delhi: Indian Defence Minister AK Antony, on Saturday dedicated the Indian Navy’s Financial Information System (FIS) to the Nation.

Lauding the Navy’s initiative as a major initiative in the field of financial management Antony said “I hope other two services and all the other departments of the Government of India will follow this timely and useful initiative of the Indian navy. I would like to congratulate the navy for taking this timely initiative”. 

Speaking about the need for judicious utilization of the nations fiscal resources, the Defence Minister said “Now our defence budget is touching nearly 2 lakhs crores, in actual terms 1,93,000 Crores, and in the years to come this will further step up every year, substantial step up is there.”

Ever conscious of the need for fiscal prudence Antony stressed this aspect saying “Every rupee that we get from the Indian Tax payer we must utilise it properly effectively and as per the priority.” 

The FIS, a comprehensive financial information system, will facilitate effective planning, allotment, expenditure and monitoring of the Naval Budget.

The system will link the New Delhi based Naval Headquarters with the three Command Headquarters and various ships and establishments located far and wide across the country.

The onerous task of Budget Management involved monitoring allotment and expenditure across about five hundred Code heads being spent by six hundred and fifty units across the Navy.

The implementation of FIS marks a transition from the predominantly manual system of budget management and will reduce the delays and efforts involved in data collation and reporting, inherent in any manual system. By consolidating the transactions of disparate organizations across the various code heads on a single unified platform FIS will enable timely decision making to ensure optimal utilisation of budget. 

Saying that the FIS “is another step in the series of measures to bring about more probity, accountability and transparency in our public dealings and financial transactions”, Antony stressed upon the need to “Overcome existing constraints and enhance integration of CDAs to ensure maximum utilization of the FIS”. 

The Financial Information System (Navy) is built on SAP Enterprise Resource Planning tools and has been custom configured and developed by M/s Wipro for the Indian Navy. 

Earlier in the function, giving the welcome address the Vice Chief of Naval Staff Vice Admiral RK Dhowan had pointed out that the Indian Navy had fully utilized its allocated budget for the last six years. 
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