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India pursuing an 'exciting' route of digital transformation: IMF

He said the process of digital transformation in India offered the promise of much better targeting and much better value for money

Press Trust of India  |  Washington 

imf, International Monetary Fund
International Monetary Fund. Photo: Reuters

is currently pursuing an "exciting" route of transformation which can be a learning experience for everyone, according to the which is featuring a case study on the country's revolution in its new book.

Vitor Gaspar, Director of the International Monetary Fund's Fiscal Affairs Department, the will put out book titled 'Revolutions in Public Finance'.

"It is about what is happening in the world in terms of the use of technology in public It is also looking at the future trying to foresee what is coming as a true set of revolutions. One of the case studies in the book is India," he said.

According to Gaspar, is currently pursuing "an alternative and very exciting" route in which it is making the use of technology and records in public administration with new technologies that make use of financial inclusion and bio metrics.

"And by combining these new technologies it was possible for programs in to improve targeting quite considerably particularly for rural populations that were supposed to benefit from the programs," he told PTI in an interview.

"It was also possible to make sure that there were no leakages of any significance in the system, that monies were not being diverted to other ends. And both from the viewpoint of social policy but also from the viewpoint of efficiency and growth. The results are quite impressive," Gaspar said.

He said the process of transformation in offered the promise of much better targeting and much better value for money than what was able to deliver in the past.

"So that seems to be the route that is taking. And from the viewpoint of the Fund we hope that we're going to be able to learn a lot from it. And we're following it closely," Gasper said.

First Published: Mon, October 16 2017. 16:56 IST