RBI
BANKING
RBI says direct cash transfer can
control inflation
Dec 14, 2012
RBI Deputy Governor, KC Chakrabarty said in Mumbai that the 
Central Government’s ambitious direct cash transfer scheme will play a crucial role in reducing the fiscal deficit and controlling inflation in the country. Describing the scheme as a “power tool” the senior most of the four RBI deputy governors explained that the scheme if implemented well the scheme will have a positive impact on the inflation front and efficiency in expenditure will help reduce the fiscal deficit.
Central Government’s ambitious direct cash transfer scheme will play a crucial role in reducing the fiscal deficit and controlling inflation in the country. Describing the scheme as a “power tool” the senior most of the four RBI deputy governors explained that the scheme if implemented well the scheme will have a positive impact on the inflation front and efficiency in expenditure will help reduce the fiscal deficit.
Speaking to reporters in Mumbai, he said that the programme which is planned to be introduced in 43 districts beginning from early next year, will help in curtailing massive leakages and wastages in the subsidy distribution system. Initially 16 states will be covered by 1st April 2013 and the national roll out is planned till 1st April 2014. He also said that the programme will help in driving the financial inclusion agenda of the apex bank RBI
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