Union Finance Minister P Chidambaram today announced that the Government would launch the direct cash subsidy payments through Aadhaar based system in 51 districts of the nation starting this new year 2013, on January 1.

He made the announcement on Saturday while mentioning that the government intended to make the transfers based on the Aadhaar system in the entire nation by the end of 2013.

The new system would allow the payment of direct cash subsidies to the targeted beneficiaries. "We want the roll out (of Aadhaar-based subsidy transfer) to be completed by the end of 2013," he added talking at the Bancon conference here.

Stressing that the government was spending heaps of money on several subsidies and pensions, he added that the facility would be available for the people of 51 districts in 15 states of the nation, through Aadhaar system.

He added that the country was in an economic slowdown currently and the second quarter of the year has been witnessing a growth of 5.5 per cent. Expressing discontentment over the present situation,  "For us 8 per cent growth is not an aspiration. We must aspire for over 8 per cent growth", he said.

(AW- Anil)