DIGITALIZATION AND ITS IMPACT ON THE INDIAN ECONOMY

The Digital India program is a flagship initiative of the Indian government with the goal of transforming India into a knowledge-based society and economy by using IT as a development driver for the country’s new economy. Since the majority of the developed economies in the world, including the USA and Japan, we’re using more online transactions some decades ago, digitalization involves an online transaction. This is because it allows consumers and producers to benefit by saving time, making products available at a lower cost, and lowering the cost of transportation to buy any products in the country, like education, banking insurance hotel services, and commerce sectors. The Digital India goal supports inclusive growth in fields like electronic services, products, gadgets, manufacturing, job possibilities, etc. with an increased drive for additional momentum. The total effect of Digital India on India’s economic growth is expected to have a long-lasting effect because all of the efforts of the Digital Schemes are technology-driven. the segmentation of the Indian economy & GDP into its main sectors, including agriculture, industry, and services. Therefore, in order to fully realize the potential of this program, some obstacles to its successful implementation, such as a lack of digital literacy, subpar infrastructure, inadequate internet connection, etc., must be overcome. If successfully executed, it will provide the nation &residents with a number of new prospects, so given the program’s current state, it necessitates a lot of work and commitment from all government agencies as well as the business sector. Given the program& current state, it requires a lot of work and dedication from all government agencies as well as the business sector. If properly implemented, it will open up a number of new opportunities for the citizens of the country.

               

KEYWORDS: Digital India, Inclusive Growth, Economic Growth, GDP, Digital Literacy.


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