Now Reading: Chandigarh launches CBDC-based food subsidy transfers
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Chandigarh launches CBDC-based food subsidy transfers
Union agriculture minister Shivraj Singh Chouhan on Friday launched a central bank digital currency-based direct benefit transfer system for food subsidies in Chandigarh under the Pradhan Mantri Garib Kalyan Anna Yojana. Chandigarh…
The Story in Brief
Union agriculture minister Shivraj Singh Chouhan on Friday launched a central bank digital currency-based direct benefit transfer system for food subsidies in Chandigarh under the Pradhan Mantri Garib Kalyan Anna Yojana. Chandigarh and Dadra & Nagar Haveli are the first regions to operationalise the model, Hindustan Times reports.
Eligible beneficiaries will receive subsidy tokens in CBDC wallets and use them to buy foodgrains from empanelled merchants. The system is designed to make payments traceable and restrict their use to food purchases. Households will also be able to choose pulses and other essentials along with wheat and rice. Officials have been asked to resolve operational problems before expansion. The scheme is part of a programme that provides free foodgrains to more than 800 million people.
The Indian Opinion
Claims that digital delivery alone will eliminate leakages are too sweeping, while fears that every beneficiary will be excluded are also premature. The real test is whether people can open and use CBDC wallets, find participating merchants and receive the correct subsidy without technical help. Chandigarh is a controlled pilot, not proof that the model will work across rural India. Usage and failed transactions will settle its promise.
Source: hindustantimes.com
This story was synthesised by AI from the source linked above.
