If only subsidy distribution could become effective and efficient. If only it was automated and real-time. We don’t need any numbers to imagine how radical a change it would be for hapless farmers and a vast agricultural country that is India.
So NITI Aayog and Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) have embarked on a Proof of Concept (PoC) to check that very 'if-only'. They are going to try Blockchain Technology for fertiliser subsidy management. The speed, transparency, traceability and immutability that blockchain brings to the table could mean a lot for a space that struggles with subsidy disbursal pace of two to three months, clutter of many entities in verification process and gaps on quick reconciliation of transactions between multiple parties with minimal human intervention – everything that is a heavy-lifting job.
Here’s hoping we will get both results and new insights for future from this pilot.