The Unique Identification Authority of India has sought Rs 25,000 crore for the incentive. An announcement is likely in the Budget to be presented on February 26. "I cannot confirm or deny the proposal," director general of the authority R.S. Sharma told HT. "It is being felt that half of Indian population will not opt for the UID, if there is no financial incentive," said a senior government official, who didn't wish to be identified as he is not authorised to speak to the media.
A UID is not mandatory. "Through UID we aim to bring all residents into formal banking network. It'll eventually help in tracking black money in a better way," the official said. According to government estimates half of the country's population is unbanked.
There could be some grant for the incentive in the Budget, a Plan panel official said on condition of anonymity. "The finance ministry has to take the final call."