IMF Lauds India’s Direct Cash Transfer Scheme
The International Monetary Fund (IMF) said India’s rollout of direct money transfers and other similar social welfare programs was a “logistic miracle”.
“From India, there’s a lot to learn. There’s a lot to learn from some other examples around the world. We have examples from pretty much every continent and every income level. If I look In the case of India, that’s actually quite impressive,” Paolo Mauro, deputy director of the IMF’s Finance Department, told reporters at a news conference here.
“In fact, just because of the sheer size of the country, it’s a logistical miracle how these programs manage to help low-income people reach hundreds of millions of followers. literally,” he said. on the impressive direct cash transfer program being successfully launched by the Indian government.
There are programs that specifically target women. There are programs aimed at the elderly and farmers. Perhaps the interesting part is that in these examples, there is a lot of technological innovation, he said.
“In the case of India, one thing that is remarkable is the use of a unique identification system, Aadhaar,” said Mauro.
“But in other countries, sending money through mobile banking is more used for people who really don’t have a lot of money but they have a mobile phone,” says Mauro.
“So there is innovation in identifying people, in processing their applications to transfer funds through digital means, in deploying funds through mobile banking. This is what it is. that countries can learn from each other.We are also trying to be here for you to speak.
Commenting on the IMF’s cooperation with India in the application of new technologies, Vitor Gaspar, Director of the Finance Department, said that India is “one of the most inspiring examples of technology adoption. to solve very complex problems about the goal of helping those who need it most”.
The IMF has also worked with many African countries on government technology.
“And also in Africa, there are many examples of innovation, which are also relevant and inspiring. So the exchange of experiences that Paolo talked about is what we are trying to organize. organization and learning amount can Gaspar say.
(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)