IMF terms India's DBT schemes as logistical marvel

Washington: The IMF has described India's deployment of a direct cash transfer scheme and other similar social welfare programmes as a 'logistical marvel', saying there is a lot to learn from the country which is one of the most inspiring examples of the application of technology to solve complicated issues.

The aim of DBT (Direct Benefit Transfer) is to transfer the benefits and subsidies of various social welfare schemes directly in the bank account of the beneficiary on time by bringing efficiency, effectiveness, transparency and also to eliminate the intermediary body. According to the government data, more than Rs24.8 lakh crore has been transferred through Direct Benefit Transfer (DBT) mode since 2013, Rs6.3 lakh crore in the financial year 2021-22 alone; on an average over 90 lakh DBT payments are processed daily as per data of FY22.

"From India, there is a lot to learn. There is a lot to learn from some other examples around the world. We have examples from pretty much every continent and every level of income. If I look at the case of India, it is actually quite impressive," Paolo Mauro, Deputy Director of the Fiscal Affairs Department at the IMF, told reporters here on Wednesday.