Finance minister Arun Jaitley on Sunday said the direct transfer of cooking gas subsidies into the bank accounts of users will help the government cut its subsidy bill by around Rs 12,700 crore, or around a quarter of the funds spent last year.
The minister used the successful transition to direct benefit transfer (DBT) system to argue for extending the scheme to other subsidies, something that has been debated for long but had seen minimal progress.
"The experience with the DBT scheme in LPG is very encouraging. Research by the office of the chief economic adviser shows that about Rs 12,700 crore (25%) will be saved this year from the DBT scheme. If we can be careful in our design and implementation, we can extend DBT to other commodities, so that the poor get more money to spend for their upliftment," the finance minister said in a Facebook post...........Read more
Source: The Times of India