FM Nirmala Sitharaman At Wharton: $450 Bn Transferred Via DBT In 8 Years

Finance Minister Nirmala Sitharaman has highlighted how Direct Benefit Transfers introduced by the Narendra Modi government have benefited the poorest of the poor in India. In conversation during a fireside chat at the Wharton Business School in University of Pennsylvania on Monday, October 22, she claimed that more than $450 billion had been transferred to beneficiaries in the past 8 years. “Over 51 ministries and departments in the central government deal with Direct Benefit Transfers (DBT). More than $450 billion have been transferred cumulatively in the last 8 years,” the Finance Minister said, adding, “In 8 years, around $40 million have been saved from pilferages.” She also spoke on how the digital experience of India is a superb lesson in cutting down pilferages, fraudulent transactions and ghost account holders.