'Efficient Use Of Technology Saving India Rs 1 Lakh Crore,' Says FM Nirmala Sitharaman

Economy

FM Nirmala Sitharaman on Sunday asserted that India is saving Rs 1 lakh crore by removing corruption and wrongdoing through the efficient use of technology

Written By Digital Desk | Mumbai | Updated On:
Nirmala

Union Finance Minister Nirmala Sitharaman on Sunday asserted that India is saving Rs 1 lakh crore by removing corruption and wrongdoing through the efficient use of technology. Sitharaman added that the money is being saved through the Direct Benefit Transfer (DBT) while speaking at the inaugural session of the 44th Civil Accounts Day function held in New Delhi.

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"Rs 1 lakh crore being saved for the country through DBT is not just symbolic. It is done through the efficient use of technology, without really making anyone feel that you are not entitled. You have proven that corruption and wrongdoing can be moved out of the system through efficiency," Sitharaman said.

FM praises Public Finance Management System

The Finance Minister also praised the Public Finance Management System (PFMS) started by the government. Sitharaman also said that the government has revolutionalised the technology-driven PFMS.

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 "The government has revolutionised the technology-driven PFMS that has silently empowered India to be accountable, responsive, and transparent." Sitharaman said. 

Direct Benefit Transfer a huge silent revolution, FM

The Direct Benefit Transfer (DBT) scheme and the Goods and Services Tax (GST) scheme has become an identity of the country in the international world, Sitharaman added.

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"Today wherever in the world we go, all over the world there is recognition for DBT and GST. Whoever wants to take credit of DBT may do so, but it is a huge silent revolution," she said.

FM commends Controller General of Accounts

Commending the role of Controller General of Accounts (CGA), Sitharaman said that not only it is making the nation more efficient and transparent but it's also more effective in using its public finance. The Union Finance Minister further implored the civil accounts officers present at the event to adapt to the changes taking place with each passing day. Dr. T V Somanathan, Secretary (Expenditure) also graced the inaugural function held on Sunday.

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(With inputs from ANI)

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