Asserting that the direct benefit transfer (DBT) scheme ensures efficiency, President Pranab Mukherjee on Tuesday expressed hope that the government will include more welfare schemes in the e-payment mode in future. “The government places the highest importance towards the DBT mode of payments as the preferred mode for reaching out to the financially disadvantaged and excluded segments of our population," Mr. Mukherjee said on the occasion of the 40th anniversary of the Indian Civil Accounts Service.
“This mode of direct transfer of funds to beneficiary bank accounts ensures transparency, eliminates delays and brings about a perceptible drop in corruption levels. I am confident that the government will on-board more welfare schemes on the Public Financial Management System (PFMS) portal in future," he said. There is need to harness and leverage e-governance capabilities for improving lives of the poor and the needy and to transform India into a more equitable and financially inclusive society, he said.
The President said the foremost challenge for the office of the Controller General of Accounts is timely and credible financial reporting of public finances, which is the backbone of an efficient and sound financial management system.