MORE COVERAGE
Twitter Coverage
JOIN SATYAAGRAH SOCIAL MEDIA
"Truth will ultimately prevail where there is pains to bring it to light": 'India the bright spot on a dark horizon, a fast-growing economy, even during these difficult times & this growth is underpinned by structural reforms' - Georgieva, MD of IMF
On Wednesday, the International Monetary Fund (IMF) said that India’s digital cash transfer scheme and several other social welfare programs are a ‘logistical marvel’.
|
While addressing a Fiscal Monitor press conference, Paolo Mauro, Deputy Director of the Fiscal Affairs of India, asserted that there is a lot to learn from India. “From India, there is a lot to learn. If I look at the case of India, it is quite impressive,” he said.
Mauro underlined the sheer size of the country, saying it is a “logistical marvel” that several programs aimed at assisting low-income people reach hundreds of millions of people.
“There are programs that specifically target women. There are programs that target the farmers, and elderly,” he added.
|
The top IMF official also highlighted the success of various technological innovations in India, particularly, Aadhaar, India’s very own unique identification system.
Vitor Gaspar, IMF’s Director of Fiscal Affairs Department, underlining that the IMF is collaborating with India on the application of new technologies said, “we are collaborating with India that in that context as one of the most inspiring examples of the application of technology to solve complex issues of providing support to the people who need it the most.”
Notably, more than Rs 6.3 lakh crore were transferred to the beneficiaries under the Direct Benefit Transfer scheme in the fiscal year 2021-22, as per the information provided by the Ministry of Electronics.
|
During the previous fiscal year, an average of 90 lakh (9 million) Direct Benefit Transfer payments were processed daily.
According to government data, approximately 20,000 crores was recently transferred into the bank accounts of more than 10 crore beneficiaries under the PM Kisan Samman Nidhi Yojana. Every year, eligible farmers receive 6,000 in three equal installments of 2,000 under the PM-KISAN scheme. Since the scheme’s launch in 2019, 11 installments have been distributed, with over 2 lakh crore transferred to approximately 11.37 crore eligible farmers, as per the information provided by the Centre.
In terms of digital payments, more than 8,840 crore digital payment transactions were processed in 2021-22, and nearly 3,300 crores in 2022-23. (up to July 24, 2022). A day saw an average of 28.4 crore digital transactions. Since 2013, more than 24.8 lakh crore (24.80 trillion) has been transferred through the DBT mode.
|
References:
Support Us
Satyagraha was born from the heart of our land, with an undying aim to unveil the true essence of Bharat. It seeks to illuminate the hidden tales of our valiant freedom fighters and the rich chronicles that haven't yet sung their complete melody in the mainstream.
While platforms like NDTV and 'The Wire' effortlessly garner funds under the banner of safeguarding democracy, we at Satyagraha walk a different path. Our strength and resonance come from you. In this journey to weave a stronger Bharat, every little contribution amplifies our voice. Let's come together, contribute as you can, and champion the true spirit of our nation.
Please share the article on other platforms
DISCLAIMER: The author is solely responsible for the views expressed in this article. The author carries the responsibility for citing and/or licensing of images utilized within the text. The website also frequently uses non-commercial images for representational purposes only in line with the article. We are not responsible for the authenticity of such images. If some images have a copyright issue, we request the person/entity to contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. and we will take the necessary actions to resolve the issue.
Related Articles
- "There is something different between defence deal and deal in defence": 2000 Crores Defence Deal with Armenia: A Nightmare for Turkey and a Jackpot for India as India is set to export rockets and ammunition to Armenia to aid the nation against Azerbaijan
- “Only those who risk going too far can possibly find out how far one can go”: 7 Adani airports saw an increase of 92% in domestic, 133% in international travelers, handled record 14.25 million passengers last year & stocks gained ₹2.2 lakh crore in 6 days
- Ashok Gehlot-led Rajasthan Govt introduces new regulations for keeping cows in 213 cities across the state: one cow per household, annual fees, strict fines, mandatory tagging, cow dung to be taken out of the city
- "Tech Tycoon Tango": OpenAI, the brain behind ChatGPT, says 'game over' to CEO Sam Altman, Co-founder Greg Brockman follows suit, bidding adieu; board's 'confidence vote' seems more like a plot twist in a tech thriller. Who's scripting this, AI or humans?
- "Shine like the universe is yours": Delhi's Pragativ Maidan, home to the ITPO undergone a stunning transformation ahead of the G20 Leaders meetings, flaunting modern design & world-class facilities, the venue is set to make India shine on the global stage
- Uphaar Cinema fire was one of the worst fire tragedies in recent Indian history: Association of Victims of Uphaar Fire Tragedy (AVUT) filed a landmark case considered a breakthrough in civil compensation law in India
- NITI Aayog in talks with Indian Railways for putting up EV charging infrastructure powered by renewable energy resources across the country: India aims to become net-zero carbon emitter by 2030
- "Food for the body is not enough. There must be food for the soul": Culinary pilgrimage - VARR, a Specialty artisanal restaurant at 'HOLYWATER by Ganga Kinare', serving the most popular and delectable prasadams from temples across the country
- The real truth about halal which no one wants you to know: Unmasking the Reality of Halal Business Network
- "We should keep on going along the path of globalization. Globalization is good... when trade stops, war comes": India-UAE to carry out bilateral trade in their national currencies, will help two-way trade reach $100 billion mark in more than five years