Economy Aug 15, 2012
The government wanted to create a system through which money from central welfare schemes could be credited directly into bank accounts of beneficiaries and would utilise the unique identification number Aadhar scheme for this, Prime Minister Manmohan Singh said Wednesday.
"We want to create a system in which money from government schemes-pension for old people, scholarship for students and wages for labourers-can be credited directly into people's bank accounts. This would reduce inconvenience to the beneficiaries, make it easy for them to receive payment and increase transparency," the prime minister said while addressing the nation on Independence Day.
He said the Aadhar scheme, which gives a unique identification number, was being utilised for this.
"We will take help from the Aadhar scheme under which about 20 crore people have been registered so far."
The government believes this identification scheme would help it ensure that benefit of welfare schemes reaches only genuine beneficiaries.
More From Firstbiz Staff.