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Summary:

Ms. Nirmala Sitharaman, Union Minister of Finance, stated that more than US$ 450 billion has been transferred to citizens through Direct Benefit Transfers (DBT) over the last eight years. Speaking at the Wharton Business School in Philadelphia, she mentioned that over 51 ministries are involved in managing DBT. She noted that this system has significantly improved the delivery of welfare benefits directly to individuals via digital channels, eliminating intermediaries and reducing leakages.

 

She emphasized that digital technology has been critical in decreasing theft and fraud, saving nearly US$ 40 billion. "Around US$ 40 million has been saved from pilferages in eight years," she stated, highlighting the eradication of ghost accounts and the importance of accountability. India's digital initiative is a "superb lesson" in enhancing transparency and efficiency, ensuring that every penny is accounted for and preventing the misuse of public funds through the DBT system.

 

Source: IBEF 

 

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