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New e-payment system will bring down corruption: Pranab
Monday October 31, 2011 07:53:00 PM,
IANS
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New Delhi: A new
electronic payment system, inaugurated Monday, will usher in
transparency in the way ministries and various government
departments pay their vendors and financial beneficiaries and will
help in bringing down corruption, Finance Minister Pranab
Mukherjee said here.
"This e-payment system will reduce the citizen interface by
eliminating the beneficiary dependency on government office and
officials to hand over the cheque since the payments would be
effected directly into their accounts," Mukherjee said after
inaugurating an electronic payment (e-payment) system here.
"A transparent payment trail would ensure that the entire payment
process is trackable and delays can be monitored online. This
would be a major initiative for good governance and would be an
important tool in reducing corruption," he added.
The e-payment system, devised by the Controller General of
Accounts (CGA) will make transactions cashless and make payments
online into beneficiaries' accounts in a seamless manner under a
secure environment.
"The system covering all central government departments and
ministries is expected to eliminate almost two crore cheques. When
it becomes fully operational in civil ministries, defence and
railways, it is expected to cover a total payment of over Rs.6
lakh crore," he added.
The system will also expedite direct payments from various fund
disbursing departments and agencies with respect to subsidies to
users and consumers of fertiliser, kerosene and cooking gas.
The Finance Minister also said that the electronic payment systems
are designed for automated processing and bank reconciliation,
thereby reducing the costs of transactions and associated manual
work in the involved public agencies, beneficiaries and banks.
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