<h1>Direct Benefit Transfer efficiency driving fiscal savings and broader beneficiary coverage through targeted digital transfers.</h1> The document evaluates DBT as a reform replacing paper disbursals with targeted digital transfers via the JAM trinity, attributing large leakage reductions and a decline in subsidy share to elimination of ghost beneficiaries and intermediaries while expanding coverage. It introduces the Welfare Efficiency Index, combining DBT savings, subsidy reduction and beneficiary growth to quantify multi-dimensional efficiency gains, and reports correlations showing increased coverage associating with higher savings and lower subsidy burdens, framing DBT as a replicable mechanism for fiscal optimisation and inclusive welfare delivery.