Digital transaction brings in savings to govt:Nirmala Sitharaman

Union Minister Nirmala Sitharaman said Prime Minister Narendra Modi's visionary approach to ensure all sections were brought under banking system through inclusive banking was an effective strategy to weed out informal economy.

"The visionary approach of Prime Minister ensures recognition of self respect to all sections including those who are marginalised and belonged to the poorer sections and to register development of all states" she said while inaugurating a seminar on Digi Dhan Yojana.

Stating that the adoption of direct benefit transfer ) system in implementing various welfare schemes was proving to be successful both for the beneficiaries and also the government, she said that it was found that the implementation of the DBT in payment of wages under such projects like MGNREGA had resulted in saving of as much as Rs 27,000 crores to the government.

"Nothing will be forced on any section and no state would be left out of the development process and Prime Minister is keen that our country marched ahead on faster pace by keeping informal economy at bay", she said.