India’s direct cash transfer program is a ‘logistical marvel’, IMF says

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The International Monetary Fund (IMF) has praised India’s direct cash transfer program and taken note of the Aadhaar initiative.

The IMF welcomes India’s direct cash transfer program and other similar social protection programs. (Image: Reuters)

By India Today Web Desk: The International Monetary Fund (IMF) has called India’s rollout of a direct cash transfer program and other social protection programs a “logistical marvel”. Speaking to the media on Wednesday, an IMF official said India’s social protection programs were impressive as they reach “literally hundreds of millions of people”.

“From India there is a lot to learn. There is a lot to learn from other examples around the world. We have examples from almost every continent and every income level. If I look at the case India is actually quite impressive,” Paolo Mauro, deputy director of the IMF’s Fiscal Affairs Department, told reporters.

“In fact, just because of the sheer size of the country, it’s a logistical marvel to see how these programs that seek to help low-income people reach literally hundreds of millions of people,” he said. in response to a question. on the impressive direct cash transfer program successfully implemented by the Indian government.

Mauro noted that India has listed programs specifically targeting women and there are programs for the elderly and farmers. Perhaps the interesting part is that in these examples there is a lot of technological innovation, he said.

IMF TAKES NOTE OF INDIA’S AADHAAR INITIATIVE

The IMF official pointed to the country’s “striking” Aadhaar programme.

“In the case of India, one thing that stands out is the use of the unique identification system, Aadhaar,” Mauro said.

“But also in other countries there is more use of sending money via mobile banking to people who don’t actually have a lot of money, but have a mobile phone,” Mauro said.

“So to be somewhat innovative in identifying people, in processing their requests for transfers through digital means, in deploying funds through, again, mobile banking. This is something countries can learn from each other. We’re also trying to be a bit of a gathering place here where people can compare those kinds of experiences,” he said.

The director of the IMF’s Fiscal Affairs Department, meanwhile, said that the IMF was working with India on new technologies and observed how “complicated” problems were solved with the help of means.

Vitor Gaspar said India is “one of the most inspiring examples of the application of technology to solve very complex problems of targeting aid to those who need it most”.

Gaspar pointed out that the IMF is associated with African countries for innovation.

“And also in Africa, there are very many examples of innovation, which is relevant and inspiring too. So the exchange of experiences that Paolo was talking about is something that we try to organize, and the amount of “Learning that this can take place is actually quite surprising. There is a lot going on in India, Africa and other parts of the world,” Gaspar was quoted as saying by the PTI news agency.

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