States are incurring losses due to this scheme for women…
The government makes many promises during elections to ensure victory for its party. When an election is about to come in the state, many schemes like Direct Benefit Transfer (DBT) are announced. bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>state bank of india (SBI) has expressed concern about this. sbi says that the burden of such schemes falls on the budget of the states.
Schemes are affecting the budget of the states
Recently elections were held in maharashtra and Jharkhand. During this time, direct benefit transfer schemes for women were announced, which is an important part of the state's election strategies. Parties benefited from this, governments were also formed, but the pressure fell on the state budget. According to a report by sbi, this scheme was announced in eight states during the elections, the total cost of which is more than Rs 1.5 lakh crore. This amount is 3-11 percent of the generated revenue of the states.
Crores being spent annually on schemes
The report mentioned the schemes being run in the states, such as the Griha lakshmi Yojana in Karnataka, on which the government has to spend Rs 28,608 crore annually. This is 11 percent of Karnataka's revenue. Similarly, the lakshmi Bhandar Yojana is run in West Bengal, on which the annual expenditure is Rs 14,400 crore. This is 6 percent of the total revenue. The report said that even though these schemes support the government and women also become self-reliant, but before announcing them, the states should consider the fiscal deficit. Expressing concern, the bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>state bank of india has also said that if this trend of announcing schemes like DBT before the elections continues, then it may put pressure on the central government in the future. The report suggested adopting the Universal Income Transfer Scheme.
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