India has taken advantage of digitalization to create social protection programs that reach the poor: World Bank President: Newsdrum

Washington, October 13 (PTI) India has taken advantage of digitalization to create social protection programs that reach the poor, World Bank President David Malpass said Thursday, noting that the country can do much more on the administrative plan to create efficiencies.

According to a recent World Bank poverty report, some countries have been able to soften the blow to poverty from COVID-19 through cash transfer systems and digitalization.

“I think we should recognize the importance of digitalization in the world because it allows even poor countries to have a connection with people across the country,” Malpass said at a press conference here on the sidelines. of the annual meeting of the International Monetary Fund. and the World Bank.

“It’s a connection that wasn’t available before this digitalization and India has taken advantage of it to create social protection programs that reach the poor,” Malpass said in response to a question.

This showed up in 2020 event data, he said. When COVID hit, there were programs that helped soften the blow to the poor.

“So we welcome that. I think India can do a lot more administratively to create efficiencies, both in the federal government, in the Indian civil service and in the state,” he said.

The purpose of the DBT (Direct Benefit Transfer) is to transfer the benefits and subsidies of the various social protection schemes directly to the beneficiary’s bank account on time, providing efficiency, effectiveness, transparency and also to eliminate the intermediary body.

According to government data, over Rs 24.8 lakh crore has been transferred via DBT mode since 2013, Rs 6.3 lakh crore in the financial year 2021-22 alone; on average, more than 90 lakh of DBT payments are processed daily according to FY22 data.

The World Bank is actively working both with the federal government, but also actively with state governments on ways to fight poverty, ways to fight stunting, ways to treat water and electricity, as well as climate adaptation.

“All of these elements are core to our program in India,” Malpass said. PTI LKJ ZH ZH

Joel C. Hicks