India’s Finance Minister, Nirmala Sitharaman, has lauded the Pradhan Mantri Jan-Dhan Yojana (PMJDY), launched in 2014, as the largest tool for promoting financial inclusion in the country. Speaking at the Kautilya Economic Conclave 2023, Sitharaman stated that PMJDY has played a crucial role in the direct transfer of benefits to bank accounts of beneficiaries under over 50 government schemes. She also noted that despite initial skepticism about the viability of zero-balance accounts, PMJDY accounts now hold over Rs 2 trillion in total balances. The Finance Minister addressed climate financing, multilateral institutions’ effectiveness, global terrorism challenges, and fiscal management in her speech.
Pradhan Mantri Jan-Dhan Yojana (PMJDY) Major Contributor to Financial Inclusion: Finance Minister
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2023/10/20141903/1695314566-1051.jpg)