Union Minister of Finance, Ms. Nirmala Sitharaman, has announced a remarkable achievement in India's welfare delivery system, revealing that over US$ 450 billion has been transferred to citizens through Direct Benefit Transfers (DBT) over the past eight years. This announcement was made during her address at the Wharton Business School at the University of Pennsylvania in Philadelphia, USA.

Sitharaman highlighted the extensive involvement of more than 51 ministries and departments in the central government in managing the DBT system. This comprehensive approach has significantly enhanced the delivery of welfare benefits directly to the people via digital channels, effectively eliminating intermediaries and thereby reducing leakages and inefficiencies that have historically plagued government benefit distribution.

The Minister pointed out the pivotal role of digital technology in combating pilferage and fraudulent activities, resulting in savings of approximately US$ 40 billion. She emphasized that, "In eight years, around US$ 40 million have been saved from pilferages," underscoring the importance of eliminating ghost accounts and ensuring accountability in managing taxpayers' money. Sitharaman described India's digital initiative as a "superb lesson" in improving transparency and efficiency, ensuring that every rupee is accounted for and preventing the misuse of public funds.

The DBT system, which was introduced by the central government, has been recognized as an effective mechanism for delivering subsidies, pensions, scholarships, and other benefits directly into beneficiaries' bank accounts. This innovative approach minimizes delays and cuts down the need for intermediaries, allowing for a more streamlined and efficient distribution of resources.

As India continues to embrace digitalization in governance, the success of the DBT system serves as a model for other nations looking to enhance the efficiency of their welfare programs. The commitment to using technology for better governance and the emphasis on transparency reflect a significant shift in how public funds are managed, reinforcing the Indian government's dedication to the welfare of its citizens.

This transformative journey highlights the significant strides India is making towards a more accountable and efficient welfare system, positioning the nation as a leader in the use of technology to enhance public service delivery.

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The impressive achievements of the DBT system exemplify India's commitment to leveraging technology for the betterment of its citizens, ensuring that welfare benefits reach those who need them the most while maintaining strict accountability and transparency.