Page 8 - Digital Economy
Challenges remain amid govt's push for digital economy
As the central government pushes for a cashless economy, the Unique Identification Authority of India (UIDAI) says it's still a long way for an Aadhaar-enabled payment system (AEPS).According to a note it has sent to Parliament's standing committee on finance, of around 480 million people who have linked Aadhaar, the citizen identification, to their bank accounts, only 25 mn have access to AEPS. UIDAI says if all post offices, ration shops, offices of state electricity boards and the Centre's telephone network migrate to AEPS, there would be a little over 1.5 mn delivery points offering financial services.The parliamentary panel, headed by the Congress' Veerappa Moily, has again summoned Reserve Bank governor Urjit Patel, for July 6. This is a sequel to his appearance before the committee on January 18, on the controversial demonetisation issue.Later, the topic was expanded to 'demonetisation and transformation towards a digital economy', with the government saying the banning of Rs ..
 "Challenges remain amid govt's push for digital economy")
India eyeing to become a trillion-dollar digital economy by 2022
India is aiming to increase the turnover of digital and IT industry to $ 1 trillion by 2022 from the current $ 270 billion as the country looks to focus on start-ups, financial technology and new age technologies.The digital and IT industry in its current form is primarily driven by IT and IT enabled services which comprise of around USD 150 billion, followed by financial services at USD 50 billion, electronics manufacturing at USD 40 billion among others.However, going forward there will be more focus towards newer technologies and start-ups.IT Minister Ravi Shankar Prasad said that going forward, a major push will be given to services and offerings in the digital space, with focus on start-ups, new-age IT solutions, financial technologies and cyber security.The government has also roped in McKinsey & Co to pace up the growth of digital services in the country. McKinsey will advise the government whereas Niti Aayog will work with the state governments in evaluating the ...
 "India eyeing to become a trillion-dollar digital economy by 2022")
Can universal basic income counter ill-effects of digital economy?
Sceptics fear given a free income, most people will stay home & watch YouTube while society crumbles
 "Can universal basic income counter ill-effects of digital economy?")
No final decision on taxing cash transactions above Rs 50,000: Govt
Panel was constituted on Nov 30, 2016 after govt demonetised Rs 500 and Rs 1,000 notes
 "No final decision on taxing cash transactions above Rs 50,000: Govt")
Driving digitisation
Dividing people on their propensity to embrace technologies can help attain goal of cashless economy
 "Driving digitisation")
Digital economy to raise electricity tariff
With the move to a digital economy, the dependence on electricity would only rise
 "Digital economy to raise electricity tariff")
To promote digital economy, govt to begin lucky draw on Dec 25
Event would be followed in 100 different cities across India over the next 100 days until March
 "To promote digital economy, govt to begin lucky draw on Dec 25")
Digital India: Why people are ignoring bank UPIs and flocking to Paytm instead
Post demonetization, people flocked to digital wallets for mobile payments instead of bank apps
