Successful implementation of India’s direct cash transfer scheme will eradicate corruption from the country – Sunil Prasad, Sec’y General, Europe India Chamber of Commerce

The International Monetary Fund (IMF) hailed India’s direct cash transfer scheme and described it as a “logistical marvel” considering its sheer size. Speaking to the media on Wednesday, an IMF official said that India’s social media welfare programs were impressive as they are perfect examples of the proper use of technology, and the schemes currently benefit hundreds of millions of people.

Paolo Mauro, the Deputy Director of the Fiscal Affairs Department at the IMF, said that there is much to learn from India as the country has attained a logistical marvel in how they have implemented these programmes, considering the sheer size of the country. “From India, there is a lot to learn. There is a lot to learn from some other examples around the world. We have examples from pretty much every continent and every level of income. If I look at the case of India, it is quite impressive,” added Mr Mauro.

In a candid conversation with The Quotes, Mr Sunil Prasad, Sec’y General, Europe India Chamber of Commerce (EICC), agreed to the comments of Mr Mauro and said that India is a perfect example of implementing and executing such a complex scheme of direct cash transfer with the use of advanced technology.

“The day such schemes will be fully implemented till the last man standing in the queue, India will witness revolutionary changes in the country. It will directly affect the eradication of corruption and poverty in the country. The people belonging to the underprivileged segment of society, who were earlier reliant on middlemen, now have direct access to receive funds from the government. This is going to help India eradicate corruption.”

The IMF official further underlined the country’s striking Aadhar scheme stating that the IMF had been collaborating with India on new technologies and observed how ‘complicated’ issues were solved with the help of means.

Mr Prasad further adds that every government scheme, program, and governance is now directly linked with the Indians using an Aadhar Card. This will revolutionize digitalization in India, something I have not experienced in my 35 years of stay in Europe. The Indian economy is set to get completely revolutionized in the immediate future. A core reason is the 5G network, which will come into operation by December-end this year. The 5G network will add to the revolutionization of the Indian economy, in addition to the digitalization India is aspiring for,” concluded Mr Prasad.