India, Jan. 16 -- The Delhi Government has approved the implementation of an integrated financial management system (IFMS) costing Rs 261.66 crore to serve as a unified platform enabling real-time financial information, improved resource utilisation and transparency.

The expenditure finance committee (EFC) of the government, in its recent meeting headed by Chief Minister Rekha Gupta, approved the IFMS project proposal of the finance department.

The department pointed out challenges faced by it in financial management and fiscal oversight due to the lack of real-time information from various stakeholders, the existence of multiple outdated IT systems and inefficiencies of resource utilisation, the officials said.

IT major Deloitte was s...