Finance Minister Nirmala Sitharaman stated that the new digital invoice (e-Bill) processing system will eliminate any potential'rent seeking' in the settlement of dues to government contractors and suppliers.

The e-Bill processing system, which was announced in the Budget, was unveiled on Wednesday during a ceremony commemorating the 46th Civil Accounts Day. Suppliers and contractors will now be able to submit claims online, which will be tracked in real time, and it will be implemented on a test basis in eight ministries before being rolled out to all central ministries and departments.

Sitharaman stated that the government will ensure end-to-end digitalisation and make the cost process transparent by deploying technology not just across government departments, but also to citizens. Because a contractor or provider to the federal government will be able to file their claims digitally, the e-Bill will close even "any small window that is accessible" for "misuse in terms of rent-seeking."

"Use digital signatures to submit your claim, and you won't have to visit government agencies." Your money will be sent to you as soon as your claim is approved with a digital signature,  the Finance Minister said.

India worried about its exports amid Ukraine Crisis: Finance Minister

Growth resurgence is a focus in the budget 2022-23: Nirmala Sitharaman

Russia-Ukraine: Peace critical for sustaining recovery, says Nirmala Sitharaman