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LATEST NEWS UPDATES | Cash transfer scheme will eliminate irregularities, says Chidambaram

Cash transfer scheme will eliminate irregularities, says Chidambaram

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published Published on Dec 17, 2012   modified Modified on Dec 17, 2012
-The Hindu

Chennai: Union Finance Minister P. Chidambaram said the cash transfer scheme, aiming at crediting subsidy amount directly to the bank accounts of beneficiaries, would be fully implemented throughout the country by December 2013. “Beneficiaries of 39 schemes will get their money transferred to their bank accounts directly,” Mr. Chidambaram said, while participating in the centenary celebrations of former Assembly Speaker S. Chellapandian on Sunday.

He said the “your-money-in-your-hands” scheme would lead to a total revolution as it would eliminate irregularities in releasing the subsidies to beneficiaries.

Stating that as much as Rs. 1242 crore, meant for old age pension, had been misappropriated in three years and an enquiry would take another three years to complete, Mr Chidambaram said in many cases it was a mystery since no one knew where the money had gone. Payment was being made to beneficiaries in an erratic manner now.

“We can rectify this by making use of modern technology and we will ensure that the money reaches the beneficiary immediately.” He said a pilot scheme was under way in 51 districts and it could not be implemented in HP and Gujarat as they were facing Assembly elections.

Will be implemented throughout the country by December 2013

Beneficiaries will get money transferred to their bank accounts directly

The Hindu, 17 December, 2012, http://www.thehindu.com/todays-paper/tp-national/cash-transfer-scheme-will-eliminate-irregularities-says-chidambaram/article4208088.ece


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