Finance Minister Nirmala Sitharaman said on Thursday that in just a decade, direct welfare transfer (DBT) has increased by more than 90 times.
In addition, India informed on the X social media platform that India is ahead of the world with real-time payments, with transactions of over Rs 26 crore in 2024-25.
“From Rs 736.8 billion in 2013-14 to Rs 683 million in 2024-25, under Prime Minister Modi, DBT transfers have increased by more than 90 times in just a decade, ensuring that every Rs 70 will reach every citizen,” FM Sitharaman said. ”
She further noted that India is ahead of the world with real-time payments, “the transaction value of Rs 26 crore worth Rs 26 crore processed in 2024-25 is worth Rs 26 crore, and about Rs 186,000 crore per year”.
According to the Finance Minister, India’s technological journey over the past 11 years has been nothing more than revolutionary.
“India has transformed into a hub of digital innovation, technology-led governance and global trust. From manufacturing to space technology, from digital payments to rural connectivity, this change is visible, impactful and lasting.”
But it’s not just about equipment and platforms – it’s about seamless governance, empowering citizens, and building a technology-first “Viksit Bharat.”
Indian Deputy Governor M. Rajeshwar Rao said that as of May 21 this year, 554 million Jan Dhan accounts opened 56% of the accounts in India, with the total amount of these deposits exceeding Rs 2.5 million.
In fiscal 2024-25, digital payments soared 35% year-on-year to $6.081 billion in transactions per day, with UPI accounting for 83.73% of such transactions.
Rao observed that UPI’s extraordinary absorption demonstrates the power of collaboration and use case-driven innovation in promoting financial inclusion.
