India receives fulsome praise from IMF on its Direct Benefit Transfer Scheme
New Delhi: The International Monetary Fund (IMF) has praised India’s direct benefit transfer and other social welfare programs. A senior IMF official has called it a miracle. Along with this, he has advised other countries of the world to learn from India. Paolo Mauro, deputy director of the Department of Financial Affairs at the IMF, said that India’s efforts in bringing the benefits of the schemes to its citizens have been very impressive.
“There is a lot to learn from India. We have examples from almost every continent and every level of income. If I look at India is it really impressive?” He said, “It’s a logical miracle considering India’s population. These programs, which help low-income people, literally reach millions of people.” Mauro was addressing a press conference during the 2022 annual meeting of the IMF and the World Bank Group in Washington.
The senior IMF official expressed surprise at the use of technology to extend the benefits of welfare programs to women, the elderly and farmers. He said that the most attractive thing in India is the use of Unique Identification System i.e. Aadhaar Card.
“In other countries there is more use of sending money through mobile banking to people who don’t really have a lot of money, but do have a mobile phone,” Mouro said.