Daijiworld Media Network - New Delhi

New Delhi, Jun 5: A decade of game-changing reforms under Prime Minister Narendra Modi’s leadership has radically transformed the welfare landscape of India, said Finance Minister Nirmala Sitharaman on Thursday. She credited a series of innovative financial inclusion initiatives with plugging leakages, boosting transparency, and empowering millions.

“Direct Benefit Transfer (DBT) has been a turning point in India’s welfare ecosystem, closing loopholes and ensuring direct payments to people’s bank accounts,” Sitharaman said on X. “Over 1,200 government schemes now use DBT, disbursing a whopping ?44 lakh crore to beneficiaries.”

Thanks to this digital push, India has saved Rs 3.48 lakh crore by eliminating inefficiencies and fraud, she noted.

Highlighting other initiatives, Sitharaman pointed to the PM MUDRA Yojana, which has democratized entrepreneurship by providing accessible credit at the grassroots. “So far, 52 crore loans worth Rs 33 lakh crore have been sanctioned, with women receiving nearly 68% of these loans,” she added.

Meanwhile, the PM Jan Dhan Yojana has universalized banking access under the world’s largest financial inclusion program. As of now, 55.44 crore bank accounts have been opened, with women holding more than half (55.7%) of them.

Prime Minister Modi emphasized that the government’s focus on DBT, digital payments, and rural infrastructure has brought transparency and efficiency to last-mile delivery. “With direct transfers, we have cut subsidy leakage drastically—from 16% to just 9% of total expenditure,” according to government data released in April.

“This progress has helped lift over 25 crore people out of poverty,” Modi posted on X. “Our mission remains clear: to build a self-reliant and inclusive India where every citizen can live with dignity.”