Finance Minister Nirmala Sitharaman today said that Pradhan Mantri Jan Dhan Yojana has emerged as the biggest instrument of bringing financial inclusion in the country. She said, these accounts played vital role in delivering money directly to the accounts of the poor during the Covid-19 pandemic.
Speaking at the Kautilya Economic Conclave 2023 in New Delhi, the Minister highlighted the importance of digitalization saying that it has brought greater transparency and empowered citizen. She said, beneficiaries are now getting the benefits of more than 50 government schemes in their bank accounts with the help of digitalization.
During her address, Minister Nirmala Sitharaman has raised concern over the role of multilateral institutions and increasing debt vulnerabilities. She said, the multilateral institutions like United Nations, World Health Organization, and World Trade Organization is today less than effective. She said, the level of effectiveness of their intervention is less than an ideal position.
Highlighting concern over the mounting debt, the Finance Minister said, the government is conscious about the debt. She said, the government is consciously looking at experiments at different parts of the world through which overall debt can be brought down. She also highlighted concern over terrorism and food insecurity.
Speaking on this occasion, Reserve Bank of India Governor Shaktikanta Das said, the global economy is now facing a triad of challenges like slower growth, inflation, and risk of financial instability.
