The International Monetary Fund (IMF) described India’s implementation of a direct cash transfer scheme and other similar social welfare programmes as a “logistical marvel” on Wednesday.
“There is a lot to learn from India.” There is much to be learned from other examples from around the world. We have examples from almost every continent and income level. “If I look at the case of India, it is actually quite impressive,” said Paolo Mauro, Deputy Director of the IMF’s Fiscal Affairs Department, at a news conference here.
“In fact, just because of the sheer size of the country, it is a logistical marvel how these programmes that seek to assist low-income people reach literally hundreds of thousands of people.”
“In fact, just because of the sheer size of the country, it is a logistical marvel how these programmes that seek to help people with low income levels reach literally hundreds of millions of people,” he said in response to a question about the impressive direct cash transfer programme that the Indian government is successfully implementing.
There are programmes aimed specifically at women. There are programmes for the elderly and farmers. The interesting part, he says, is that there is a lot of technological innovation in these examples.
“In the case of India, one thing that stands out is the use of the Aadhaar unique identification system,” Mauro said.
“However, there is a greater use of sending money in other countries as well.”
“However, in other countries, there is a greater use of sending money through mobile banking to people who don’t have a lot of money but have a cell phone,” Mauro said.
“However, in other countries, there is a greater use of sending money through mobile banking to people who don’t have a lot of money but have a cell phone,” Mauro said.
“Being somewhat innovative in identifying people, processing their applications for transfers via digital means, and deploying funds via, once again, mobile banking. Countries can learn from one another in this area. We also try to be a gathering place where people can compare these kinds of experiences “He stated.
