Effectiveness of prime minister jan dhan yojana (pmjdy) in boosting public wealth – a study

The present paper discusses the role of Prime Minister Jan Dhan Yojana (PMJDY) in boosting the public wealth. This scheme provides financial inclusiveness and banking access to millions of households across the country and provides the insurance cover and gives a sense of security to millions of households across our country. By linking this scheme with various other government schemes money will be directly credited into the accounts of the beneficiaries thereby eliminating the intermediaries and curbing the leakages. This scheme providing access to micro-credit in the later phases of the scheme. But, many accounts opened under this scheme were lying dormant though this problem would rectify once the government links this scheme with other schemes such as MNREGA and other direct cash benefit transfer schemes. Overall this scheme could be a game changer and has potential to change the face of the country. It could help plug the leakages and improve the efficiency of targeted public distribution systems. The analysis made with the help of both primary data through structured questionnaire and secondary data through various sources like books, articles and published materials. Finally, it attempts to offer suitable suggestions to improve the status of PMJDY in uplifting then public wealth.