National Budget 2023-24

Electronic transfer of all social scheme funds on cards

electronic fund transfer system
The government will bring the payments of all cash-based social safety net programmes under the electronic fund transfer system from the coming fiscal year.

 

The government will bring the payments of all cash-based social safety net programmes under the electronic fund transfer system from the coming fiscal year.

The government has introduced a more targeted, transparent, and accountable approach to the social security programmes by implementing the government-to-person (G2P) method.

Under the approach, each beneficiary is receiving monthly allowances directly into their preferred bank account or mobile account through EFT on a specified date in 22 out of 25 cash-based programmes.

In 2023-24, the rest cash-based programmes will be brought under G2P. Now more than 80 per cent of cash-based social security programmes are being implemented through G2P.

Comments

Electronic transfer of all social scheme funds on cards

electronic fund transfer system
The government will bring the payments of all cash-based social safety net programmes under the electronic fund transfer system from the coming fiscal year.

 

The government will bring the payments of all cash-based social safety net programmes under the electronic fund transfer system from the coming fiscal year.

The government has introduced a more targeted, transparent, and accountable approach to the social security programmes by implementing the government-to-person (G2P) method.

Under the approach, each beneficiary is receiving monthly allowances directly into their preferred bank account or mobile account through EFT on a specified date in 22 out of 25 cash-based programmes.

In 2023-24, the rest cash-based programmes will be brought under G2P. Now more than 80 per cent of cash-based social security programmes are being implemented through G2P.

Comments