Integrated Financial Advisor Conference- 2025 held in Hampi

S G Dastidar, IDAS Financial Advisor (Defence Services), in his address, reflected on the 275 plus year-old legacy of the department and the significance of hosting the event in Hampi.

 

 

He spoke about the expansion of the IFA system, particularly in the light of capability enhancement of our defence forces and the increasing delegation of financial powers to the Service Headquarters.

 

He contextualised financial challenges within the backdrop of external and internal factors, including an unsettled neighborhood, collusive threats and global disruptions caused by conflicts in Ukraine and West Asia.

 

Reinforcing the vision of Aatmanirbharta, he reiterated the importance of Finance through standardisation of procedural appraisals, combat information silos between various functionaries through effective data information systems and coherence between IFAs and CDAs (Controller of Defence Accounts).

 

Delivering the keynote address, Dr Mayank Sharma, IDAS, CGDA, highlighted that the conference serves as a platform for the exchange of robust ideas, acknowledging the increasing complexity of the financial advisory roles in a dynamic global security environment.

 

He stressed upon the need for technological integration, reinforcing the department’s legacy through Project SAMPOORNA—an initiative for end-to-end automation, data analytics and machine learning-driven MIS—in alignment with Raksha Mantri’s aspirational “Year of Reforms 2025”.

 

 

He also underscored the paradigm shift in defence finance by incorporating economic principles into financial decision-making and the pressing need for financial advisors to be alert, agile and responsive.

Vishvajit Sahay, IDAS, Additional CGDA, in his welcome address, emphasised the role of the conference in fostering deep deliberations and critical discourse to strengthen the defence financial framework within the given landscape of rules/procedures.

 

Stressing the need for a comprehensive internal review, he called for actionable insights and pragmatic solutions while advocating for improving public perception of the financial advisory role.

Shivalli Chouhan, IDAS Jt. CGDA (Finance), delivered the vote of thanks, expressing gratitude to the dignitaries, participants and media and particularly acknowledging the tireless efforts of Swarnashree Rao Rajashekar, IDAS,CDA(R&D) Bengaluru, in successfully organising the event at a short notice.

 

1. Streamlining Finance role to improve Capital Acquisition outcomes in Defence – Experts stressed the need for timely approvals, improved costing mechanisms and enhanced private sector engagement, with an emphasis on real-time dashboards and cost transparency systems.

2. IFA System in Military Engineer Services (MES) – Discussions centred on aligning financial manuals with MoF guidelines, increasing IFA involvement in core works activities, and fostering synergy between engineering authorities and financial advisors.

3. Issues in Army Commander’s Special Financial Powers (ACSFP) – the way forward: Deliberations focused on revenue-capital overlap, lack of uniform Standard operating procedures, and digital monitoring tools, with recommendations including centralized procurement data repositories and updated procurement frameworks to align with operational realities.

The conference witnessed wide participation from Principal Integrated Financial Advisors, IFAs and senior defence officials, with engaging discussions and a shared resolve to strengthen financial governance through reforms, innovation and collaborative decision-making to mark the transition from Defence Finance to Defence Finance and Economics.

 

– Team Mysoorunews