Private sector is key to financial inclusion: Sinha

Our Bureau New Delhi | Updated on January 23, 2018 Published on August 27, 2015

Need to be pro-market to be pro-poor

Private sector will have to be counted as an important partner in the financial inclusion framework sought to be put in place in India over next two years, Jayant Sinha, Minister of State of Finance, has said,

This approach could come in handy in building a common open sourced direct benefit transfer (DBT) platform envisaged for the country, Sinha indicated at a financial inclusion summit, organised by Confederation of Indian Industry (CII) here on Thursday.

Sinha asserted that Modi-led Government was pro-poor and wanted to be "pro-market" to help achieve the objective of aiding the poor.

In his address, Sinha shared the contours of a plan involving creation of common DBT platform where citizens could get a centric view of all central government payouts provided to them for different social schemes.

For instance, a citizen should be able to view the payments received by him under various Government schemes like LPG subsidy, fertiliser subsidy—all under common DBT platform.

Sinha also said that there was a need to build on the success of ‘pahal’, the scheme providing direct credit of LPG subsidy to the bank accounts of beneficiaries.

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Published on August 27, 2015
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