Rs 4,31,138 Crore: How Govt Achieved The Big Savings Figure From Direct Benefit Transfer
DBT has been showcased by the government as a zero-leakage mechanism in which every penny directly reaches the bank account of a beneficiary without any cut or middlemen
Rs. 4,31,138.05 crore—that is the latest estimate of the cumulative savings that the Narendra Modi government has made due to the nation-wide roll out of Direct Benefit Transfer (DBT). Parliament was informed of the same on Monday.
'The implementation of DBT and other governance reforms has led to the removal of duplicate and fake beneficiaries, and the plugging of leakages. As a result, the government has been able to better target genuine and deserving beneficiaries. These measures have resulted in estimated savings/benefits amounting to Rs. 4,31,138.05 crore (up to FY 2023-24)," the government said in a Parliament reply.
It also said that a record amount of Rs 36,65,57 crore had been sent to beneficiaries under various schemes through DBT in 2024-25. This has been showcased by the government as a zero-leakage mechanism in which every penny directly reaches the bank account of a beneficiary without any cut or middlemen.
How were these savings achieved?
The government's official figures on the Rs 4,31,138 crore savings include the highest amount of Rs 2,49.972 from savings under the Public Distribution System of the Department of Food and Public Distribution. That comprises of more than 50 per cent of the total savings as government has deleted 5.87 crore duplicate and fake/non-existent ration cards.
The next highest savings are under the PAHAL scheme of Ministry of Petroleum and Natural Gas—which are pegged at Rs 2,49,972.53. This is due to elimination of 4.23 crore duplicate, fake/non-existent, inactive LPG connections. In addition, number of non-subsidised LPG consumers is 2.38 crore. 'The aforesaid numbers (4.23 crore + 2.38 crore) include 1.15 crore 'Give-it-Up' consumers," the latest government data says.
Deletion of 1.26 crore fake and duplicate Job Cards under the MGNREGS of Ministry of Rural Development also resulted in savings of Rs 58,058.98 till March 2024. Similarly, deletion of 2.1 crore ineligible beneficiaries under the PM Kisan Scheme have brought about savings to the tune of Rs 22,106 crore, says the government.
view comments
First Published:
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
14 minutes ago
- Economic Times
Tata Investment shares rally 9% after board approves first-ever stock split
Tata Investment Corporation shares surged over 9% after the board approved its first-ever 1:10 stock split to enhance liquidity and retail participation. The move accompanied Q1FY26 results, showing an 11.6% rise in PAT. Technically, the stock remains bullish, trading above all key moving averages and showing strong momentum indicators. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Stock moves and technical Shares of Tata Investment Corporation climbed as much as 9.2% on Tuesday to Rs 7,625 on the BSE after the company's board approved its maiden stock split in a move aimed at improving liquidity and accessibility for retail investors. The announcement came alongside its June quarter results, which showed a double-digit rise in board of Tata Investment Corporation on Monday approved the sub-division of its equity shares in a 1:10 ratio, from one share with a face value of Rs 10 to ten fully paid-up equity shares with a face value of Re 1 its exchange filing, the company said the stock split was designed 'to make the equity shares of the company more affordable for the retail investors and to encourage wider participation in the company's ownership'. The Tata Group-firm said that the sub-division is expected 'to improve the liquidity of the equity shares of the company in the stock market'.The decision is subject to shareholder approval via postal ballot, in addition to any required statutory or regulatory clearances. The company said it would announce the record date for the stock split 'in due course', once all approvals are in is the first time Tata Investment has undertaken a stock split since listing. The company last offered bonus shares in 2005, in a 1:2 ratio, according to Trendlyne Investment also reported its financial results for the quarter ended June 2025. Consolidated profit after tax rose 11.6% year-on-year to Rs 146.30 crore, compared to Rs 131.07 crore in the same period last year. Revenue from operations stood at Rs 145.46 crore, up 2.1% from Rs 142.46 crore in stock has advanced 6.1% year-to-date and is up 21.6% over the past 12 months. In the last one month alone, it has gained nearly 8%.From a technical perspective, Tata Investment shares are trading above all eight of their key simple moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day levels, signalling sustained bullish momentum across Relative Strength Index (RSI) is at 65.2, indicating that the stock is approaching overbought territory but remains within a neutral range. Meanwhile, the Moving Average Convergence Divergence (MACD) stands at 43.1 and continues to hover above both the centerline and signal line, underscoring the strength of the ongoing Read: Sri Lotus Developers IPO: Latest GMP suggests SRK, Big B and Ashish Kacholia may pocket 28% gains (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
17 minutes ago
- Mint
‘Setting a plan of action for next 5 year…': PM Modi hails ‘historic day' on Philippines President's Delhi visit
Prime Minister Narendra Modi on Tuesday met Philippines President Ferdinand R Marcos Jr at Hyderabad House, wherein their talks were aimed at further cementing the friendship between the two nations. After the meet, addressing reporters, PM Modi hailed 'a historic day for bilateral relations' between the two Asian nations. PM Narendra Modi said, 'We are taking India to the levels of a strategic partnership. This will give our relationship a new speed and depth, and give strength to our relationship in the Defence and Security Sector.' 'In the last few years, there has been progress in our relations in all sectors- trade, defence, maritime, health, security, food security, development partnership, and people-to-people ties. It is a matter of great happiness that we are setting a plan of action for the next five years.' PM Modi said adding, 'Till July 2027, the Philippines is India's country coordinator. In 2026, you will preside over the ASEAN Chair'. Prime Minister Narendra Modi expressed his appreciation for the Philippines' decision to grant visa-free entry to Indian tourists, describing it as a welcome move. He announced that, in a reciprocal gesture, India would offer free e-visas to tourists from the Philippines. PM Modi further stated that efforts would be undertaken this year to establish direct flight connectivity between India and Manila, enhancing travel and tourism ties between the two nations. India and the Philippines have conducted joint naval exercises for the first time in the disputed South China Sea — a significant military deployment that has provoked a strong reaction from China, according to an Associated Press report. Beijing has long-standing territorial disputes with both Asian democracies and a historic regional rivalry with New Delhi. The Chief of Staff of the Armed Forces of the Philippines, General Romeo Brawner, stated on Monday that the two-day joint naval sail and exercises, which commenced on Sunday, were successfully carried out, the AP report added. Brawner expressed hope that Filipino forces would engage in further joint manoeuvres with the Indian military in the future. When asked whether Chinese forces had responded in any way, General Brawner remarked, 'We did not experience any untoward incident but we were still shadowed. We expected that already.' This is the first visit by the President of Philippines, a Southeast Asian country to India since he assumed office back in 2022, marking a significant milestone, as his visit aligns with the celebration of the 75th anniversary of diplomatic ties between the two nations. He is accompanied by First Lady Louise Araneta Marcos and a high-level delegation, including several Ministers from his Cabinet. Philippines President is visiting India from August 4-8.
&w=3840&q=100)
Business Standard
18 minutes ago
- Business Standard
KICL forays into value footwear market with Zodiz and Jeetlo acquisition
Chennai-based Kothari Industrial Corporation (KICL), a part of the D C Kothari group, has acquired Zodiz, Jeetlo, and other associated sub-brands in the footwear field. These brands cater to the price- and quality-conscious mass market, offering products below Rs 1,000 per pair — a segment that accounts for nearly 80 per cent of total Indian footwear consumption, valued at Rs 80,000 crore to Rs 85,000 crore annually. This is KICL's official entry into the branded value footwear and accessories segment, marking a significant milestone in its growth journey in the footwear sector. "We are pleased to confirm the successful acquisition of the Zodiz, Jeetlo, and other associated sub-brands, effective 4 August 2025. This acquisition gives KICL an immediate foothold in one of the fastest-growing and underserved consumer segments," said Jinnah Rafiq Ahmed, Executive Chairman, KICL. This comes at a time when India's footwear industry is witnessing rapid shifts in consumer preferences. Footwear is no longer viewed purely as a utility — it has evolved into a symbol of personal style and self-expression, the company said. "This entry in the value segment is significant, given the fact that Indian footwear consumption is slated to grow and is evolving from a utility to self-expression for young, discerning consumers," said N Mohan, Director of the company. "Key differentiators will be fashion-relevant, comfort-first, and price-accessible products aimed at Tier 2 and Tier 3 consumers, the emerging urban centres," he added. With per capita consumption at 1.9 pairs per annum and expected to double by 2030, the opportunity for value-driven, fashion-apt products is immense in India. The Government of India's continued focus on this sector further reinforces the timing and relevance of entry, a statement said. "Our business strategy will be distribution-led, targeting Tier 2 and Tier 3 cities — India's emerging urban hubs where the appetite for affordable fashion is on the rise," said Ahmed. "We aim to deliver products that are style-relevant, aligned with evolving fashion sensibilities, comfortable, and affordable. Our extensive distribution network will be instrumental in scaling reach and building long-term value across the ecosystem," he added. "With a strong team, deep market understanding, and robust infrastructure, KICL is well-positioned to capture this opportunity. We view this move not just as an acquisition, but as the beginning of a new chapter — one that will unlock value for consumers, partners, and stakeholders alike," Ahmed said. "We are excited to embark on this journey at a time when the Indian footwear market is undergoing a profound transformation. Our goal is to serve the rising aspirations of young Indian consumers while creating lasting stakeholder value," he said.
