India Defence News, Hampi, April 8, 2025 – Defence Secretary Shri Rajesh Kumar Singh emphasized the pivotal role of Integrated Financial Advisors (IFAs) in enhancing transparency and accountability within India’s defence financial system during the Integrated Financial Advisors Conference 2025, held by the Defence Accounts Department (DAD) in Hampi, Karnataka, from April 3–4.
Championing Fiscal Transparency
Addressing the conference, Shri Rajesh Kumar Singh praised IFAs as key enablers of transparency, accountability, and responsiveness in defence expenditure.
He highlighted their critical role in ensuring fiscal prudence, aligning with the Ministry of Defence’s (MoD) goal of efficient resource utilization.
Vision for a Centre of Excellence
Echoing Raksha Mantri Shri Rajnath Singh’s directive, the Defence Secretary urged the DAD to evolve into a Centre of Excellence in Defence Finance and Economics.
He called for research-based policy inputs, rigorous cost-benefit analysis in procurement, and the adoption of AI-driven financial analytics to modernize financial management.
Tech-Driven Reforms Applauded
Shri Singh lauded the DAD’s transformative initiatives, particularly Project SAMPURNA (System Automation for Procurement, Payment, and Uniform Raksha Accounting).
By integrating AI, machine learning, and data science, the project has streamlined procurement, payments, and accounting, boosting operational efficiency.
Milestone in Budget Utilization
The Defence Secretary noted a significant achievement: DAD’s 100% capital budget utilization in FY 2024–25, a first in five years.
This milestone underscores the department’s commitment to optimizing financial resources for defence modernization and readiness.
Focused Deliberations
The two-day conference featured six business sessions exploring critical topics, including
- IFAs’ contributions to capital acquisitions,
- challenges in the IFA system for Military Engineer Services, and
- the merits and complexities of outsourcing in defence.
Discussions also covered Army Commander Special Financial Powers, aiming to enhance decision-making agility.
Leadership Insights
Financial Advisor (Defence Services) Shri S.G. Dastidar emphasized the expanding IFA system amid growing defence capabilities and delegated financial powers.
He advocated for standardized procedures and stronger coordination with Controllers of Defence Accounts (CDAs).
CGDA Dr. Mayank Sharma highlighted Project SAMPURNA’s role in redefining financial advisory functions.
Strengthening Aatmanirbhar Bharat
The conference reinforced the MoD’s commitment to self-reliance by promoting indigenous financial systems and technologies. Shri Singh stressed inter-departmental collaboration to support Aatmanirbhar Bharat, ensuring defence finances align with national strategic goals.
The Integrated Financial Advisors Conference 2025 concluded with a renewed focus on leveraging technology and expertise to drive efficiency, transparency, and innovation in India’s defence financial ecosystem.