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Govt saved $ 27 bn in schemes using DBT method, says Finance Secy

India saved over USD 27 billion in key central government schemes through direct benefit transfer as it is swift and eliminates corruption, Ajay Seth, Secretary of Department of Economic Affairs said in Hyderabad on Sunday. Delivering his keynote address at the second meeting of the Global Partnership for Financial Inclusion, Seth said Digital Public Infrastructure (DPI), created by India is inherently scalable, interoperable, innovation-friendly, and inclusive and has completely transformed government to people, people to people and people to business interactions. “And since the transfers are all direct, end to end, and swift, there is little scope for corruption and leakages and removal of duplicate/ fake beneficiaries. In our own experience, DBT has entailed a saving of more than USD 27 billion just across key central government schemes,” the official said. He further said that G20 has helped the world navigate through multiple shocks and continues to provide guidance on global economic coordination. With focus on advancing financial inclusion in the Global South, delegates discuss DBT - a landmark initiative as an essential delivery system for the government. The three day event started on Friday.

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