Out of the 1,200 central and state government schemes, 1,100 are now under the ambit of the Direct Benefit Transfer (DBT) system, said Union Finance Minister Nirmala Sitharaman on Saturday.
FM Sitharaman said that this ensures that funds are directly transferred to the beneficiaries’ bank accounts, eliminating middlemen and reducing delays.
"Everything is going via direct payment, so there are no middlemen, no unborn children getting allowances,” the minister said, while speaking at the 49th Civil Accounts Day celebrations in the national capital.
The Finance Minister added that everybody who receives the fund has a biometric-verified account into which the money goes.
"The Public Financial Management System (PFMS) has played a crucial role in streamlining DBT,” she stated, noting that the system enables the government to ensure that the funds reach the intended beneficiaries without any irregularities.
FM Sitharaman further stated that PFMS currently serves around 60 crore beneficiaries, making it the largest financial management system of its kind in the world. Its end-to-end digitalisation feature has strengthened financial governance and enhanced accountability in fund distribution.
The PFMS interacts with over 250 external systems, including the Government e-Marketplace (GeM), the Goods and Services Tax Network (GSTN), PM Kisan, and the Tax Information Network (TIN 2.0). This integration allows smooth financial transactions and supports the government’s vision of cooperative federalism, the Finance Minister said.
In addition, PFMS has connected financial systems across states, working with 31 state treasuries and over 40 lakh programme implementing agencies.
“With its extensive network, the system plays a key role in ensuring that government funds are utilised effectively and reach those who need them the most,” Sitharaman said.
"When we talk about PFMS integrating systems. What better example can there be of cooperative federalism if only we recognise, all 31 state treasuries and over 40 lakh programme implementing agencies enabling unified financial management across states," she said.
More relief, medical supplies: India continues humanitarian aid to Myanmar
In a heartwarming gesture, Myo Aung, the Chief Minister of Mandalay, visited the facility, witnessing first hand the compassionate care being extended. The Indian Army shared this on X on Tuesday with a few photos.
India, Thailand bilateral trade ties set to strengthen during PM Modi's visit
The recent years saw increased investment from Thailand in India in infrastructure, real estate, agro processing, electronics, automotive, food processing sectors, the hotel hospitality sector and the renewable energy sector.
Uproar in Lok Sabha as SP leads Oppn protest over Waqf Bill
The four-day last leg of Parliament Budget Session 2025 kicked off on an acrimonious note on Tuesday with Opposition MPs forcing an adjournment in the Lok Sabha amid protests led by Samajwadi Party members over the Waqf (Amendment) Bill.
PM Modi and Chilean President hold bilateral talks at Hyderabad House
Prime Minister Narendra Modi on Tuesday met Chilean President Gabriel Boric Font at the Hyderabad House, where the two leaders discussed ways to enhance bilateral engagement across economic, commerce and societal domains.
EAM Jaishankar, Chilean Prez Boric discuss long-standing bilateral ties
External Affairs Minister (EAM) S. Jaishankar on Tuesday held talks with Chilean President Gabriel Boric Font and discussed ways to strenghthen long-standing bilateral ties.
Bengal illegal factory blast: Death toll rises to 8, owners absconding
The police have started a massive search operation at Patharpratima and its adjacent areas to track the two owners of the illegal firecracker factory, Chandrakanta Banik and Tushar Banik, who have gone absconding since the blast took place at around 10 p.m. on Monday.
Commercial LPG cylinder prices cut by Rs 41 in relief for businesses
In a big relief for industries and businesses that rely heavily on cooking fuel, oil marketing companies on Tuesday announced a price cut of Rs 41 on commercial LPG gas cylinders (19 kilograms).
Yunus statement on northeastern states offensive, condemnable: Assam CM Sarma
Assam Chief Minister Himanta Biswa Sarma on Tuesday said the statement of Bangladesh interim government’s chief advisor Muhammad Yunus regarding the seven states of northeast is offensive and condemnable.