The central government transfers cash to beneficiaries’ accounts on a variety of schemes. In the recently announced relief package, the government made a cash transfer to the beneficiaries’ account using direct benefit transfer (DBT).
- The Modi government uses this scheme to transfer cash
- Fund transfer is done immediately using DBT
- This is how this particular scheme works
For the first time in a 21-day lockdown in the country, the central government has announced a relief package of Rs 1.7 lakh crore. Finance Minister Nirmala Sitharaman made big announcements in this package for the poor, the workers, the elderly citizens, the disabled, the widows. The benefit is provided through direct transfer. Earlier, the central government also sought the help of Direct Benefit Transfer for such beneficiaries. Even before this, the government has already transferred Rs. So what is DBT and how do the public get the benefits of government schemes?
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What is DBT?
Currently the central government subsidizes on a number of schemes. These subsidies are transferred directly to the beneficiaries in their account. Then the cost of the product or service offered under this scheme is lower than the market price. On the other hand, the central government transfers the money to their agency or institution without giving the money to the beneficiaries. Products or services that are reaching these beneficiaries at low cost. Whenever the central government transfers the rupees directly to the beneficiary’s account on the basis of a scheme, it is called direct benefit transfer.
What are the benefits of direct benefit transfer?
One of the biggest advantages of DBT is that it does not have the possibility of any kind of fraud, whereas if the government directly transfers the money to the beneficiary’s account, there is no role for the intermediaries. In this way the beneficiary is getting direct benefits of the government scheme. The beneficiary also needs the Aadhaar number so that the government can check if the beneficiary is getting benefits. Aadhaar is a kind of universal credential in India. It helps the government to identify the beneficiaries correctly.
How does DBT work?
There are many processes that can be done under DBT. The central government manages it at its own level. The process of registration of Public Financial Management System is completed before the beneficiary of the scheme on the basis of DBT. After this the beneficiary’s database is prepared. Beneficiary details are verified at the time of preparation of this database. DBT uses a feedback loop when making any payments.
Depending on the DBT, multiple types of transfers are made to the beneficiary’s account. The money can be transferred to the beneficiary’s account with the government’s treasury account or with the help of an agency designated by the government.
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