INDIAKumardeep, BloombergUTV.Aug 3, 2012, 12:40PM IST


PM to announce UID-Aadhar linked bank accounts

The government will need to step up spending to negate the impact of the drought. However, in a fiscally constrained year, it is going to have to ensure minimum leakages in subsidy payouts.


Bloomberg UTV has learnt that the Prime Minister is likely to announce a UID-Aadhar linked bank account scheme around his annual Independence Day speech.

According to sources, Prime Minister Manmohan Singh may announce the scheme around August 15. “The scheme will be implemented on pan-India basis,” they added.

Sources further said that cash subsidies will be directly transferred to these accounts. “Rs 3 lakh crore of cash subsidies will go through banks and is likely to kick off end of the year.”