“Digital payments driving India’s shift to unified mega-economy”: Nandan Nilekani on Digital India
Infosys Chairman Nandan Nilekani on Sunday said that digital public Infrastructure like UPI is transforming several informal economies into one mega economy.
The B20 or the Business 20 summit concluded in the national capital on Sunday.
He made the remarks at the B20 summit here, while noting that India turning into one mega economy is going to be the trend for the next 20 years.
“Whenever you use a digital platform, it creates data. India has invented a unique idea of how individuals and companies can use their own data footprint to monetize it. This data footprint is their digital capital. And individuals can use digital capital to get ahead in life. This concept doesn’t exist anywhere in the world,” he said.
[With Inputs from IANS]
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The unquantifiable gain is the stop it has put to thieving of the public funds, which was an organized loot with beneficiaries ranging from top to bottom. The extortion was at very step where the payment was by cheque even in income tax refunds. No wonder the government is not short of money.