NEW DELHI: India’s Finance Minister Nirmala Sitharaman articulated the pivotal role of digital infrastructure in propelling India to its status as one of the fastest-growing economies globally.
Speaking at the Wharton Business School, she emphasised that the widespread adoption of digital tools by the populace has been instrumental in harnessing the potential of the country’s economic framework.
According to her, “Today, India wouldn’t have been the fastest-growing economy if the people hadn’t utilised the digital infrastructure, which was available to them free of cost.” This assertion underscores the transformative power of technology in enhancing economic performance and accessibility.
The Minister’s remarks highlight the efforts made to provide free digital access, coupled with extensive campaigns in local languages, which have enabled citizens to embrace technology effectively.
The outreach has not only democratized access to essential services but has also empowered millions, particularly in remote areas, to engage with government initiatives. Sitharaman noted that this Digital Public Infrastructure (DPI) has significantly improved the efficiency of service delivery, making it easier for individuals to benefit from welfare schemes.
Curbing pilferage
A notable example of this success is the Direct Benefit Transfers (DBT) program, through which over $450 billion has been transferred to citizens in the past eight years. This initiative has streamlined the distribution of welfare benefits, ensuring that aid reaches the intended recipients without the interference of intermediaries.
The Minister highlighted that the use of digital technology has been crucial in curbing pilferage and fraudulent activities, saving approximately $40 billion during this period. Such achievements reinforce the importance of accountability in managing public funds.
Furthermore, Sitharaman articulated a vision for India’s future, aiming to transform the nation into a developed economy by 2047. She identified four critical pillars—Infrastructure, Investment, Innovation, and Inclusiveness—as essential to navigating the challenges ahead.
The integration of physical and digital infrastructure will be vital in this endeavour, facilitating sustained economic growth and improved living standards for all citizens.
