Direct benefit transfers (DBT) have helped the government save more than Rs 50,000 crore in the last financial year, reported The Hindu BusinessLine, citing official data. The savings point towards the effectiveness of the DBT system that ensures various subsidies are transferred directly to the beneficiaries’ accounts.
The money saved in the last fiscal is more than half of the total savings made between the fiscal year 2014 and fiscal year 2018, the report said. Official data, the report said, revealed that the estimated savings from DBT in FY19 were Rs 51,664.85 crore, while cumulative savings since the inception of the scheme till FY18 were a little over Rs 90,000 crore.
Currently, over 400 government schemes implemented by more than fifty ministries and departments have adopted the DBT method, the report added.
The method, the report said, depended heavily on Jan Dhan Yojana (over 35.75 crore accounts), Aadhaar (over 123.78 crore holders) and mobile connections (116 crore users). Though the scheme was originally initiated by the UPA government in 2013, its widespread usage began under the Modi regime.