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.
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.”
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