ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Developing JAM+ to Reform Public Finance Management in India

Doing More with Less

The current focus on financial inclusion has opened up solutions to reduce leakages in central and state government schemes. For these solutions to have a sustainable impact, deeper issues in public fund management must be addressed. These issues revolve on three key challenges: "first-mile" problems of transferring central and state funds to local implementation agencies in a timely, efficient and transparent manner; "last-mile" problems of sending benefits to beneficiary or vendor bank accounts without delays; and "beyond-the-last-mile" challenges of ensuring rural beneficiaries have adequate access to remote banking services. This paper reviews these three challenges and proposes a new public finance management system, namely, JAM+. The authors believe that these reforms have the potential to reduce India's fiscal deficit by ₹1 lakh crore.



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