India's deployment of cash transfer scheme is a 'logistical marvel': IMF
Washington (PTI): 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 Rs 24.8 lakh crore has been transferred through Direct Benefit Transfer (DBT) mode since 2013, Rs 6.3 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.
"In fact, just because of the sheer size of the country, it is a logistical marvel how these programmes that seek to help people who are at low-income levels reach literally hundreds of millions of people, he said in response to a question on the impressive direct cash transfer programme being successfully implemented by the Indian government.
There are programmes that target specifically women. There are programmes that target the elderly and farmers. Perhaps the interesting part is that in these examples, there is a lot of technological innovation, he said.
"In the case of India, one thing that is striking is the use of the unique identification system, the Aadhaar, Mauro said.
"But in other countries, also, there is greater use of sending money through mobile banking to people who actually do not have a whole lot of money, but they have a cell phone, Mauro said.
"So being somewhat innovative in identifying people, in processing their applications for transfers through digital means, deploying funds through, again, mobile banking. This is something that countries can learn from each other. We also try here to be a little bit of a convening place where people can compare these types of experiences, he said.
Observing that the IMF is collaborating with India on the application of new technologies, Vitor Gaspar, Director of the Fiscal Affairs Department, said that India is one of the most inspiring examples of the application of technology to solve very complicated issues of targeting support to the people who need it most .
The IMF has also been working with many African countries in the area of government technology.
"And also in Africa, there are very many examples of innovation, which is relevant and inspiring as well. So, the exchange of experiences that Paolo was talking about is something that we are trying to organise, and the amount of learning that can take place is actually quite surprising. There is a lot going on in India, in Africa, and in other parts of the world, Gaspar said.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
