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  3. Bimal Jalan panel bats for extending DBT in kerosene and food

Bimal Jalan panel bats for extending DBT in kerosene and food

14 Aug 2015 Evaluate

A government-appointed panel headed by Bimal Jalan, to suggest ways to prune subsidies has favoured extending the cash transfer scheme to kerosene and food in three years for directly helping beneficiaries. Jalan has said that “We are trying to see what way we can use DBT (direct benefit transfer) and apply it to other entitlements and other things. I won’t name the products because what we will do will take some more time. The whole idea is to make it easy because it saves expenditure.”

Jalan in his meeting with Finance Minister Arun Jaitley, batted very strongly for the direct benefit transfer scheme. That one development, he says, will go a long way in helping the process is the setting up of payment banks. He said that 'We already have a DBT system and can look for utilisation of payments banks in rural areas by tying it up with DBT.' He added that whenever action is taken to set up payment bank, it will increase the outreach of our financial system to the rural areas and we can implement it.

Subsidy rationalisation is high on economic agenda of the government and it has already introduced direct benefit transfer scheme to plug leaks in LPG subsidy and other welfare schemes to ensure the benefit reaches the poor directly.

The government had set up the Commission under the former RBI Governor in August last year to suggest steps to reduce subsidies on food, fertiliser and oil and narrow the fiscal deficit. Former finance secretary Sumit Bose and former RBI deputy governor Subir Gokarn are members of the Commission.  The Commission had submitted its interim report in January and will submit its comprehensive report to the government by the end of the year, as it is mandated to submit the final one before Budget 2016-17.

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