Pradhan Mantri Jan Dhan Yojana (PMJDY) has brought millions of Indians into the formal banking system.
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12 Years of Modi Govt: How Direct Benefit Transfer, Jan Dhan blocked corruption in welfare schemes | Image: AI
12 Years of Modi Govt: The Bharatiya Janata Party (BJP) on June 7 completed 12 years in office under the leadership of Prime Minister Narendra Modi. During these 12 years, India has witnessed and undergone major transformation, with the poor and needy people remaining the focus of the government. The Modi government, in the last 12 years, has taken several initiatives, including Jan Dhan accounts, Direct Benefit Transfers, Swachh Bharat, PM Awas Yojana, Jal Jeevan Mission and Ayushman Bharat Scheme. These initiatives have been introduced to provide people with dignity, opportunity and an improved quality of life.
The BJP government, under the leadership of PM Modi, has been working for the poor and has introduced over 200 schemes in the last 12 years for the welfare of over 140 crore countrymen.
Pradhan Mantri Jan Dhan Yojana
The PMJDY scheme has connected a significant portion of the population to the banking ecosystem. There are over 54 crore accounts with total deposits of around Rs 2.39 lakh crore, marking a 15-fold increase since the scheme was introduced. This has been a major success in rural and semi-rural areas, with over 66 percent of accounts coming from these regions, specially from women.
The World Bank also noted India’s achievement, saying that it achieved its financial inclusion goals in just six years.
Interestingly, PM-Jan Dhan Yojna along with JAM Trinity became the largest financial inclusion scheme in the world.
Key Highlights
- PMJDY with JAM Trinity has become the world’s largest financial inclusion program.
- The government’s JAM system makes sure that government benefits are directly transferred to beneficiaries. The middlemen role’s end via Direct Benefit Transfers (DBT).
- It has also boosted transparency and reduced corruption. PMJDY with JAM Trinity connected millions of poor households to the country’s economy.
- Over 54 crore Jan Dhan accounts have been opened, with total deposits of around Rs 2.39 lakh crore.
- The government removed around 10 crore fake beneficiaries from government welfare databases. This also prevented Rs 2.75 lakh crore from reaching ineligible individuals.
- In Delhi, there are over 65 lakh Jan Dhan accounts with deposits of over Rs 3,114 crore.
- Over 2.59 lakh women have benefited from PMJY in Delhi only.
Digital Payments and UPI Growth
- In India’s digital payment revolution, which has been applauded across the world, JAM Trinity has played a crucial role.
- UPI transactions touched Rs 200 lakh crore in FY 2023-24.
- Interestingly, over 40 percent of the global real-time payment transactions happen in India.
- India’s UPI is operational in seven countries, boosting cross-border payments and financial inclusion.
- Ayushman Bharat and Healthcare
- The government highlighted the success of Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), launched in 2018.
- The scheme provides health coverage of up to Rs 5 lakh per family per year for hospitalisation.
- It is currently implemented in 33 states and Union Territories.
- In March 2024, around 37 lakh families of ASHA workers, Anganwadi workers and helpers were added to the scheme.
- In October 2024, the scheme was expanded to provide free treatment worth up to Rs 5 lakh annually to all citizens aged 70 years and above.
- As of November 30, 2024:
- Around 36 crore Ayushman cards had been issued.
- Nearly 29,929 hospitals were empanelled, including 13,222 private hospitals.
- Around 8.39 crore hospital admissions worth Rs 1.16 lakh crore had been authorised under the scheme.
