Published Sep 26, 2023
DBT, "Direct Benefit Transfer," is a financial inclusion program initiated by the Indian government to transfer subsidies and benefits directly to beneficiaries' bank accounts.
DBT enhances targeted subsidy distribution to benefit farmers and agricultural stakeholders, prioritising support for those in need, like small and marginal farmers.
DBT cuts intermediaries, curbing corruption, and boosts farmer income by direct fund transfers, enhancing resource utilisation in agricultural subsidy distribution.
Direct Benefit Transfer ( DBT ) ensures timely payments to farmers, crucial for convenient access to inputs like seeds, fertilisers, and pesticides, optimising crop yields.
DBT promotes transparency in the allocation and distribution of subsidies. Beneficiaries can track their payments, verify the amounts received, and report discrepancies, reducing the scope for fraud.
DBT extends banking access to previously unbanked farmers, enabling them to access vital financial products like credit and insurance, enhancing support for their agricultural endeavours.