Defence Accounts Department to Hold National Financial Advisors Conference in Hampi

Bengaluru: The Defence Accounts Department is set to host a two-day Integrated Financial Advisors Conference in Hampi from April 3 to 4, aimed at strengthening fiscal prudence and financial management in the defence sector.

According to a press release from the department today, the conference, organised under the leadership of Controller General of Defence Accounts Dr. Mayank Sharma, will bring together financial experts from across the country. The inaugural session will be addressed by Financial Advisor (Defence Services) S.G. Dastidar, while Defence Secretary Rajesh Kumar Singh will be the chief guest at the valedictory session.

With a legacy spanning over 275 years, the Defence Accounts Department plays a crucial role in managing the financial services of the armed forces, including budget allocation, expenditure monitoring, and pension disbursement. This year, the department is handling a defence budget of ₹6,81,210.27 crore, accounting for 13.45% of the Union Budget—the highest among all ministries.

The Integrated Financial Advisor (IFA) system, introduced in 1983 and expanded to the armed forces in 1994, embeds financial advisory functions within the core decision-making framework of defence establishments. At present, 196 Integrated Financial Advisors operate across the country, ensuring fiscal discipline and efficient resource utilisation.

The upcoming conference will facilitate discussions on key aspects of defence financial management. Six dedicated business sessions will focus on topics such as streamlining finance in capital acquisitions, the role of IFAs in the Military Engineer Services (MES), special financial powers of Army Commanders, operational and logistics needs of IFA offices, outsourcing strategies, and project management.

The event will witness the participation of financial advisors from various defence entities, including the Army, Navy, Air Force, Coast Guard, Border Roads Organisation, Defence Research and Development Organisation (DRDO), Canteen Stores Department (CSD), and MES. The discussions are expected to help realign financial strategies and address challenges faced by financial advisors in their respective roles.

Through structured deliberations, the conference aims to enhance fiscal efficiency, transparency, and decision-making within the defence financial system, ensuring optimal utilisation of resources in one of India's largest budgetary allocations.