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Cash transfer of subsidy from Jan 1: Chidambaram
Saturday November 24, 2012 07:05:20 PM,
IANS
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Related Article |
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Potential game changer: Direct cash
transfers set to begin
In
preparation for the launch of the UPA government's direct cash
transfer (DCT) of subsidies and welfare schemes to millions of
people, Prime Minister Manmohan Singh will Monday hold the first
meeting to roll out the ambitious project which it hopes would be
a game changer for the government and the nation.
»
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Pune: The government
will start direct cash transfer of subsidy amount to beneficiaries
in 51 districts from the beginning of the next year and targets to
introduce the new programme across the country by the end of 2013,
Finance Minister P. Chidambaram said Saturday.
"We are going to launch the ambitious programme of payout of
direct cash subsidy to people through the Aadhaar system in 51
districts across 15 states," Chidambaram said at a banking
conference, "Bancon", here.
Chidambaram said Prime Minister Manmohan Singh will hold a meeting
of the cash transfer committee Monday to prepare the ground for
implementation of the programme from Jan 1, 2013.
"We want the roll-out (of direct transfer of subsidy) to be
completed by the end of 2013," the finance minister said.
The government intends to give cash subsidies on fertiliser,
cooking gas, kerosene and the items supplied through public
distribution system (PDS) in a bid to curb leakages in the
government spending on subsidies.
Subsidies under various schemes like on petroleum products,
fertiliser, and food products account for nearly 3.5 percent of
the country's gross domestic product (GDP). It is one of the major
reasons for widening fiscal deficit.
The federal cabinet has already approved the direct cash transfer
of subsidies for fertiliser.
The government plans to transfer the subsidy on the basis of
unique identification number, called Aadhaar number.
Chidambaram said the government was pushing for the expansion of
the banking services across the country.
"Government wants every family to have a bank account," he said.
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