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INDIA

In FY22, Direct Benefit Transfer Programme Transferred More Than Trillion: Government

In FY22, Direct Benefit Transfer Programme Transferred More Than Trillion: Government_eq
Picture Source: Internet

In the fiscal year 2021–2022, beneficiaries received transfers totalling more than six trillion rupees (6.3 lakh crore), according to information released by the Ministry of Electronics on Friday. Daily processing of Direct Benefit Transfer payments averaged Rs 90 lakh (9 million).
According to government data, PM Kisan Samman Nidhi Yojana has transferred around Rs 20,000 crore into the bank accounts of nearly ten crore beneficiaries. Eligible farmers are granted Rs 6,000 in 3 equal instalments of Rs 2,000 each under the PM-KISAN programme.
According to government data, PM Kisan Samman Nidhi Yojana has transferred around Rs 20,000 crore into the bank accounts of nearly ten crore beneficiaries. Eligible farmers are granted Rs 6,000 in 3 equal instalments of Rs 2,000 each under the PM-KISAN programme. The Center reported that since the program’s commencement in 2019, 11 instalments had been paid out, totalling more than 2 lakh crore, to about Rs 11.37 crore qualified farmers. In digital payments, more than 8.840 billion transactions were made in 2021–2022 and about Rs 3.300 billion in 2022–2023 (up to July 24, 2022).Rs 28.4 crore digital transactions were made on average per day.

The Center reported that since 2013, more than 24.8 trillion rupees ($24.8 trillion) had been transferred under the DBT mechanism. Separately, Union Finance Minister Nirmala Sitharaman reported that during the previous eight years, the government spent $5 lakh crore on the MGNREGA programme, of which 20% was used to combat the Covid-19 epidemic. Pradhan Mantri Jan Dhan Yojana, the government’s flagship initiative for financial inclusion, recently celebrated its tenth anniversary on August 28.

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