Over US$ 459 billion transferred through DBT in last 8 years: Union Minister of Finance, Ms. Nirmala Sitharaman

Union Minister of Finance, Ms. Nirmala Sitharaman, announced that over US$ 450 billion has been transferred through Direct Benefit Transfers (DBT) to citizens in the last eight years. Speaking at the Wharton Business School at the University of Pennsylvania in Philadelphia, USA, on Tuesday, she noted that more than 51 ministries and departments in the central government are involved in managing DBT. She highlighted that this system has significantly enhanced the delivery of welfare benefits directly to the people through digital channels, eliminating mediators and reducing leakages.

She also pointed out that digital technology has played a crucial role in curbing pilferage and fraudulent activities, resulting in savings of around US$ 40 billion. "In eight years, around US$ 40 million have been saved from pilferages," she stated, emphasising the elimination of ghost accounts and the importance of accountability in managing taxpayers' money. She described India's digital initiative as a "superb lesson" in improving transparency and efficiency, ensuring that every rupee is accounted for and preventing misuse of public funds. The DBT system, introduced by the central government, has been recognised as an effective mechanism for delivering subsidies, pensions, scholarships, and other benefits directly to beneficiaries' bank accounts, minimising delays, and cutting down intermediaries.

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