Digital Infrastructure and Delivery of Citizen-Centric Services
Digital Infrastructure (India Stack)
- The India Stack, comprising the Identity Layer (Aadhaar), Payments Layer (UPI, Aadhaar Payments Bridge, Aadhaar Enabled Payment Service), and Data Layer (Account Aggregator), played a pivotal role during the pandemic.
- Aadhaar provided digital identity to citizens, significantly increasing formal identification and bank account penetration.
- UPI facilitated a surge in cashless payments, with transaction values skyrocketing from Rs.0.07 lakh crore in FY17 to Rs.143.4 lakh crore in FY24.
- The Data Layer transformed authentication processes, reducing e-KYC costs.
Government Initiatives
- PMJDY leveraged India Stack for direct benefit transfers, with accounts growing from 14.7 crore in March 2015 to 51.5 crore ....
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What Made The Indian Economy Resilient?
- 1 Domestic Economy
- 2 Government Initiatives
- 3 Reform Push to the Indian Industry
- 4 Evolving Financial Markets to Support the Investment Needs of a Growing Economy
- 5 Safeguarding Macroeconomic Stability
- 6 Human Resources - Dovetailing Growth with Welfare
- 7 A New Approach to Welfare
- 8 How has the New Approach to Welfare Paid Off
- 9 Women-led development: Tapping the Gender Dividend for India@100
- 10 Employment Situation in the Past Decade
