How Did Direct Benefit Transfer Increase Over 90 Times in Just a Decade?
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Synopsis
Discover how India's Direct Benefit Transfer system has skyrocketed over 90 times in just ten years, revolutionizing financial inclusion and governance under Prime Minister Modi’s leadership. Finance Minister Nirmala Sitharaman highlights the country's advancements in digital payments and tech-driven governance.
Key Takeaways
- DBT has increased over 90 times in a decade.
- India leads in real-time payments with Rs 260 lakh crore processed.
- UPI accounts for the majority of digital transactions.
- 55.44 crore Jan Dhan accounts have been opened, empowering women.
- Digital payments surged by 35% year-on-year.
New Delhi, June 12 (NationPress) The direct benefit transfer (DBT) has experienced an astonishing increase of over 90 times in the past decade under the leadership of Prime Minister Narendra Modi, stated Finance Minister Nirmala Sitharaman on Thursday.
Furthermore, India is at the forefront of global real-time payments, having processed more than Rs 260 lakh crore in transactions during 2024-25, as the Finance Minister shared on the X social media platform.
“From Rs 7,368 crore in 2013-14 to Rs 6.83 lakh crore in 2024-25, the DBT has seen an increase of over 90X in just a decade under Prime Minister Modi’s governance, ensuring that every rupee reaches every citizen,” remarked FM Sitharaman.
She elaborated that India is a leader in real-time payments, processing “over Rs 260 lakh crore worth of transactions in 2024-25, with nearly 18,600 crore transactions annually.”
According to the Finance Minister, India's technological progress over the past 11 years has been revolutionary.
“India has evolved into a center of digital innovation, tech-driven governance, and global confidence. The transformation spans from manufacturing to space technology, digital payments to rural connectivity — the impact is visible, significant, and enduring,” she asserted.
This transformation involves not just devices and platforms but also seamless governance, empowerment of citizens, and the establishment of a tech-first 'Viksit Bharat', said FM Sitharaman.
A remarkable 55.44 crore Jan Dhan accounts have been created in India, with 56 percent belonging to women, and the total deposits have exceeded Rs 2.5 lakh crore as of May 21 this year, according to RBI Deputy Governor M. Rajeshwar Rao.
In FY 2024-25, digital payments have surged by 35 percent year-on-year in volume, reaching 60.81 crore transactions daily, with UPI accounting for 83.73 percent of these transactions. The remarkable growth of UPI exemplifies the effectiveness of collaborative, use-case-driven innovation in promoting financial inclusion, Rao noted.
Point of View
It is imperative to recognize the transformative journey India has embarked upon, especially in the realm of digital innovation and financial inclusion. The remarkable growth in the Direct Benefit Transfer system under the Modi administration illustrates a commitment to empowering citizens and fostering transparency in governance. This progressive approach aligns with the nation’s aspirations for a tech-driven future.
NationPress
14/06/2025
Frequently Asked Questions
What is the Direct Benefit Transfer (DBT)?
DBT is a government initiative aimed at directly transferring subsidies and benefits to the bank accounts of beneficiaries to ensure transparency and efficiency.
How much has the DBT increased over the last decade?
The Direct Benefit Transfer has increased over 90 times, rising from Rs 7,368 crore in 2013-14 to Rs 6.83 lakh crore in 2024-25.
What role does UPI play in digital payments?
UPI, or Unified Payments Interface, accounts for 83.73% of digital transactions in India, showcasing its importance in facilitating financial transactions.
How many Jan Dhan accounts have been opened?
A total of 55.44 crore Jan Dhan accounts have been opened, with 56% of them belonging to women.
What are the benefits of the DBT system?
The DBT system enhances financial inclusion, ensures that benefits reach the intended recipients directly, and reduces leakage and corruption.
