Government launched a pilot project under
PMGKAY in Puducherry for CBDC-based Food Subsidy Distribution
¨
The government launched a
pilot project under PMGKAY in Puducherry for CBDC-based Food Subsidy
Distribution.
¨
A Central Bank Digital
Currency (CBDC)-based Food Subsidy Distribution Pilot project under the Pradhan
Mantri Garib Kalyan Anna Yojana launched in Puducherry on 26 February 2025.
¨
The pilot project was
inaugurated by Union Minister for Consumer Affairs, Food and Public
Distribution Pralhad Joshi.
¨
He inaugurated the pilot
project in presence of Puducherry Lieutenant Governor K. Kailashnathan, Chief
Minister N. Rangasamy and Minister of State for Consumer Affairs, Food and
Public Distribution Nimuben Jayantibhai Bambhaniya.
¨
As part of the
initiative, identified beneficiaries will receive food subsidies in their
digital wallets in the form of Digital currency tokens issued by RBI.
¨ The beneficiaries can use
these CBDC tokens for purchasing entitled foodgrains at authorised merchants
and Fair Price Shops.
¨ The pilot is being implemented with the Puducherry government, the RBI, the Public Financial Management System, and Canara Bank.
¨ Its aim is to improve transparency, efficiency and targated delivery of food subsidy.
