New Delhi, Dec 27 (IANS) The Finance Ministry’s Department of Expenditure (DoE) has enabled the real-time, transparent distribution of funds for 1,206 schemes covered under Direct Benefit Transfer (DBT) in FY 2024-25, processing transactions worth a record Rs 2.23 lakh crore, according to a year-end report released on Friday.
“This initiative has supported the Digital India mission by extensive integrations with 117 external systems and seamless interfaces with major banks have enhanced efficiency and accountability,” the review stated.
The system enables the complete tracking of funds from their release to credit into the bank account of intended beneficiaries as a result of which leakages are plugged.
In alignment with the 15th Finance Commission’s recommendations, the DoE has also strengthened state finances by facilitating additional borrowing capacities, performance-linked incentives, and grants for disaster recovery, healthcare, and regional development.
For FY 2024-25, the net borrowing ceiling was set at Rs 9.40 lakh crore, with an additional 0.5 per cent of Gross State Domestic Product (GSDP) allocated for power sector reforms. These measures aim to boost operational efficiency and promote economic sustainability across states, the report observed.
Public procurement reforms remain a key focus, with increased financial thresholds under the General Financial Rules (GFRs) and the release of a revised Procurement Manual in 2024. These updates prioritise Ease of Doing Business, transparency, and clarity in procurement processes, ensuring alignment with modern governance requirements. The delegation of Financial Powers Rules, 2024, further simplifies decision-making by empowering departments and individuals, fostering efficiency and responsibility in financial management, the report observed.
The DoE has also introduced social security reforms for Government employees with the Unified Pension Scheme (UPS), which guarantees assured pensions and inflation-adjusted benefits for retired personnel.
Scheduled for implementation from April 1, 2025, the scheme reflects the government’s commitment to securing the welfare of its workforce. Simultaneously, disaster management initiatives have included the timely release of funds to states affected by floods and landslides, as well as the modernisation of fire and emergency services.
These milestones are in line with the vision to maintain fiscal prudence, operational efficiency, and inclusive development. By integrating digital technologies, empowering financial autonomy, and addressing critical needs such as disaster recovery and social security, the DoE continues to strengthen governance and foster economic resilience through support for capital investment, the report added.
–IANS
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