Over 90 times rise in direct benefit transfer in just a decade, says Nirmala Sitharaman

There has been a more than 90 times rise in direct benefit transfer (DBT) in just a decade under the Prime Minister Narendra Modi-led government, Finance Minister Nirmala Sitharaman said on Thursday.

Moreover, India leads the world in real-time payments, with more than Rs 260 lakh crore worth of transactions processed in 2024-25, the Finance Minister informed on the X social media platform.

“From Rs 7,368 crore in 2013-14 to Rs 6.83 lakh crore in 2024-25, there has been a 90X+ rise in DBT transfer in just a decade under Prime Minister Modi's leadership, ensuring that every rupee reaches every citizen,” said FM Sitharaman.

She further stated that India leads the world in real-time payments as “Rs 260+ lakh crore worth of transactions processed in 2024-25 and approximately 18,600 crore transactions by volume handled annually”.

According to the Finance Minister, India's tech journey over the last 11 years is nothing short of revolutionary.

"India has transformed into a hub of digital innovation, tech-led governance, and global trust. From manufacturing to space tech, from digital payments to rural connectivity — the change is visible, impactful, and lasting,” she emphasised.

But this isn't just about devices and platforms — it's about seamless governance, citizen empowerment, and building a tech-first 'Viksit Bharat', said FM Sitharaman.

A staggering 55.44 crore Jan Dhan accounts have been opened in India, 56 per cent of which belong to women, and the total amount in these deposits has surpassed Rs 2.5 lakh crore as of May 21 this year, according to RBI Deputy Governor M. Rajeshwar Rao.

In FY 2024-25, digital payments surged 35 per cent Y-o-Y by volume to 60.81 crore transactions per day, with UPI accounting for 83.73 per cent of such transactions.

The extraordinary uptake of UPI stands as a testament to the power of collaborative and use-case-driven innovation in driving financial inclusion, Rao observed.