Defence Secretary Lauds IFA in Driving Financial Reforms

10 Apr 2025 CW Team

At the Integrated Financial Advisors (IFA) Conference 2025 held in Hampi, Karnataka, Defence Secretary Rajesh Kumar Singh praised the role of IFAs in promoting transparency, accountability, and responsiveness within India’s defence financial system. The two-day event, organized by the Defence Accounts Department (DAD) under the Ministry of Defence, took place from April 3–4.

Singh echoed Defence Minister Rajnath Singh’s vision for DAD to become a Centre of Excellence in Defence Finance and Economics. He emphasized the need for research-driven policy advice, cost-benefit analysis in procurement, and the use of AI-based financial analytics.

He also highlighted key achievements, including the DAD’s 100 per cent capital budget utilization in 2024–25 — a first in five years — and the impact of Project SAMPURNA, which uses AI, machine learning, and data science to streamline procurement, payments, and accounting.

The conference included six focused sessions that explored the role of financial advisors in capital acquisitions, challenges in the IFA system for Military Engineer Services, and discussions on Army Commander Special Financial Powers and outsourcing in defence operations.

In his opening remarks, S.G. Dastidar, Financial Advisor (Defence Services), noted the IFA system’s expansion in line with India’s growing defence needs and the increased delegation of financial authority. He stressed the importance of standardized processes, robust data systems, and strong coordination between IFAs and Controllers of Defence Accounts (CDAs). CGDA Dr. Mayank Sharma also addressed the evolving role of financial advisors and the transformative impact of Project SAMPURNA.

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