Out of the 1,200 central and state government schemes, 1,100 are now under the ambit of the Direct Benefit Transfer (DBT) system, said Union Finance Minister Nirmala Sitharaman on Saturday.
FM Sitharaman said that this ensures that funds are directly transferred to the beneficiaries’ bank accounts, eliminating middlemen and reducing delays.
"Everything is going via direct payment, so there are no middlemen, no unborn children getting allowances,” the minister said, while speaking at the 49th Civil Accounts Day celebrations in the national capital.
The Finance Minister added that everybody who receives the fund has a biometric-verified account into which the money goes.
"The Public Financial Management System (PFMS) has played a crucial role in streamlining DBT,” she stated, noting that the system enables the government to ensure that the funds reach the intended beneficiaries without any irregularities.
FM Sitharaman further stated that PFMS currently serves around 60 crore beneficiaries, making it the largest financial management system of its kind in the world. Its end-to-end digitalisation feature has strengthened financial governance and enhanced accountability in fund distribution.
The PFMS interacts with over 250 external systems, including the Government e-Marketplace (GeM), the Goods and Services Tax Network (GSTN), PM Kisan, and the Tax Information Network (TIN 2.0). This integration allows smooth financial transactions and supports the government’s vision of cooperative federalism, the Finance Minister said.
In addition, PFMS has connected financial systems across states, working with 31 state treasuries and over 40 lakh programme implementing agencies.
“With its extensive network, the system plays a key role in ensuring that government funds are utilised effectively and reach those who need them the most,” Sitharaman said.
"When we talk about PFMS integrating systems. What better example can there be of cooperative federalism if only we recognise, all 31 state treasuries and over 40 lakh programme implementing agencies enabling unified financial management across states," she said.
PM Modi congratulates CBSE students, says 'one exam can never define you'
Prime Minister Narendra Modi on Tuesday congratulated lakhs of students across India who appeared for the Class 10 and 12 Board examinations, as the Central Board of Secondary Education (CBSE) announced the results.
Defence Minister Rajnath Singh reviews security with top officials, chiefs of forces
A day after Prime Minister Narendra Modi outlined the new normal in the country’s tough anti-terror policy, Defence Minister Rajnath Singh on Tuesday reviewed the security situation with top officials and chiefs of forces.
CBSE Class 10 results declared; girls outperformed boys once again
The Central Board of Secondary Education (CBSE) announced the Class 10 Board exam results for 2025 on Tuesday. This year, an impressive 93.66 per cent of students passed the examination. Over 23 lakh students appeared for the exam, which was held at 7,837 centres across 26,675 affiliated schools.
Chinese missile maker's stock tanks over 6 pc after India destroys its air weapon
The shares of Zhuzhou Hongda Electronics Corp Ltd, the Chinese defence company that manufactures the PL-15 missile, dropped sharply by 6.42 per cent or 2.56 Yuan to 37.33 Yuan on Tuesday, after India's air defence system successfully intercepted and destroyed the missile during the conflict with Pakistan.
Three terrorists killed in J&K gunfight
Three terrorists were killed on Tuesday in a gunfight with the joint forces in Keller area of Jammu and Kashmir's Shopian district. V. K. Birdi, IGP (Kashmir), told reporters that three terrorists have been killed.
CBSE announces Class 12 result; pass percentage 88.39 per cent
The Central Board of Secondary Education (CBSE) on Tuesday declared the results for the Class 12 examinations, in which girls once again outperformed boys.
India is eternally grateful to armed forces: PM Modi visits Adampur Airbase after 'Operation Sindoor'
Prime Minister Narendra Modi on Tuesday morning visited the Adampur Airbase in Punjab to meet Indian Air Force personnel and express the nation's gratitude for their courage and fearlessness in defending the country.
Devotees throngs Venuban Vihar; meditates and offer prayer to Lord Buddha
Along with the rest of the world, Buddha Purnima was observed here at Agartala with a traditional fervour to mark not only the day when Gautam Buddha was born, but also the day when he attained Nirvana under the Mahabodhi tree at Bodh Gaya.