IMF applauds DBT scheme; terms it as 'logistical marvel'

IMF applauds DBT scheme; terms it as 'logistical marvel'

• In a big accolade for the Narendra Modi government's Direct Benefit Transfer scheme, the International Monetary Fund (IMF) has termed it a 'logistical marvel' considering the sheer size of the country.

• IMF's Deputy Director of Fiscal Affairs Department , Paolo Mauro said that while there is a lot to learn from countries across the globe, India's DBT scheme is quite impressive. Mauro said that the way DBT programme that seeks to help people who are at low-income levels reach hundreds of millions of people is a logistical marvel.

• The IMF Deputy Director said there are programmes that target specifically women or the elderly and farmers and praised the technological innovation involved in these programmes.

• IMF's chief economist Pierre-Olivier Gourinchas said that India has emerged as a bright light at a time when the world is facing imminent prospects of a recession. Gourinchas noted that India needs some key structural reforms to achieve the ambitious target of a 10 trillion dollar economy.

September Weekly Current Affairs (Science & Technology) Bitbank: Where did the Indian Army and Indian Air Force conduct joint exercise 'Gagan strike'?

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Published date : 13 Oct 2022 05:54PM