India’s digital leap: UNGA President applauds effort in poverty alleviation
Dennis Francis, President of the 78th Session of the United Nations General Assembly (UNGA), praised India’s advancements in mobile phones and digital banking services for lifting 800 million people out of poverty.
He was speaking at the Food and Agriculture Organisation (FAO) of the United Nations on Tuesday.
Francis highlighted India’s success story as an example of how technology and innovation can transform lives in developing nations, accelerating progress towards Zero Hunger for current and future generations.
Francis said, “India has been able to lift 800 million people out of poverty over the last five or six years simply by the use of a smartphone. Rural farmers in India, who never had a relationship with a banking system, are now able to transact all their businesses on their smartphone.”
“They pay their bills and they receive payments for orders… 800 million people lifted out of poverty because there is a high level of internet penetration in India and almost everyone has a cellphone,” he added.
The UNGA President emphasized the need to narrow the technology and innovation gap between developed and developing countries. He highlighted that this disparity is widening, underscoring the divide between the Global North and Global South. Urgent action by all states is required to address this issue.
PM Narendra Modi led Govt’s focus on digital transactions promotes growth and transparency:
Prime Minister Narendra Modi’s administration has prioritized expanding digital transactions in India’s economy.
Over the past decade, there has been significant growth in digital payment transactions, notably through the Unified Payments Interface (UPI), now the preferred mode of payment. The government views this surge as pivotal for growth, promoting financial inclusion, enhancing transparency, fostering innovation, and providing crucial data for informed decision-making.
Officials emphasize that increased digital transactions strengthen the economy, modernize financial interactions, and boost efficiency across sectors, supporting sustainable growth.
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Wasteful praise….keep mum man, we heard enough of such sweeteners