Indian Navy to have new budget control system

Saturday, August 11, 2012
New Delhi: In a revolutionary decision the Indian Navy will launch its force-wide automated Financial Information System (FIS) on Saturday. The latest system is expected to simplify decision-making and enhance transparency in its monetary dealings.

With the inauguration by Defence Minister AK Antony the FIS developed by Wipro at a cost of Rs 32 crore will be commissioned into the Navy on Saturday. Indian Navy chief Admiral Nirmal Verma will also be there at the launching.

For starters, FIS will help manage the $13 billion the Indian Navy has been been allocated in the budget for 2012-13.

The system took 22 months to develop with involvement of about 1000 man months and effort by 60 members from the Indian Navy and Wipro, the officials said.

The FIS will replace the legacy system of budget management that happened predominantly manually and took nearly 45 days of every year in preparing for the processes of allocation and utilisation.

The FIS will link the Delhi-based Naval Headquarters with Command Headquarters and various ships and establishments across different locations to provides a central database to view data on allocation and reallocation of funds, receipts and recoveries, commitments, expenditure and other estimates.

The newly made system is also expected to assist in standardisation of forms and reports across the organisation and provide consistent and up-to-date information on demand to the users with enhanced transparency.
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