Digitization air sways profitable benefit of 90,000 Cr through digital transfer of money

New Delhi, June 20: Digital layer swaying advantages to the people across the country has been known to all. But on a positive note, while everyone questions about the genuine benefits to the people, the Centre has saved almost 90,000 crores by digitally transferring money to beneficiaries of 440 government schemes.

Speaking at an event, NITI Aayog CEO Amitabh Kant said that the government initiative on providing the promised benefits is moving on the right path. Apart from this he also informed that the government has been planning to dismiss the credit and debit cards and making India completely cashless and digital friendly. India will be the first country to make this possible.

Further, the CEO emphasized the fact saying that India is ahead of the private sector in terms of financial inclusions. Comparing the system to the USA, Amitabh Kant said that unlike the US, India is publicly owned and the economy is digitalized.

Kant said India has pole-vaulted in the top 5 FinTech countries globally. India hails around 1200 Financial Technology companies that are operating in the country. With this, the sector saw $3 billion investment in 2017 with the number of deals jumping from 26 in 2014 to more than 200 in 2017.

Observing that challenges India faces are very unique, Kant said, "We need to find solutions that lie with the lower strata of society, of moving from poverty to middle-income group".

Putting a full stop to all the negative assumptions and doubts about where is Ache Din! Here is something each one of us needs to know. Making India digital is just moving one step ahead to progress, development, and growth.