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Finance Minister Nirmala Sitharaman: Union Finance Minister Nirmala Sitharaman while discussing in detail on Digital Public Infrastructure said that DPI has the potential to benefit both public and private sectors. He said that India is growing rapidly in the last few years and making efficient contribution. Speaking on India’s Digital Public Infrastructure – Tracking Up the Benefits, organized by the IMF, Nirmala Sitharaman said that DPI is better suited to combat several broad and difficulties.
He said that in difficult times it is helpful for private and public sectors. At the same time, dealing with economic problems can change the pace of development of the country. DPI has a huge potential. He said that India has contributed towards efficient, new and better service through digital public infrastructure in the last few years.
From business to people’s life became easier
Speaking at the IMF event, the Finance Minister said that digital identity and payments have made people’s lives easier. In the last few times, business is getting easier. He said that data has helped improve governance of India’s governance. Nirmala Sitharaman said that DPI has provided assistance to 650 million people, who have received $322 billion directly in their accounts. Due to this, more than 27 billion dollars have been saved in the schemes and services of the central government. India has a record of opening 462.5 million low-cost bank accounts, of which 56 per cent are women. Sitharaman said that this has helped in developing the largest system in the world.
$4.5 billion transferred during the pandemic
Explaining the benefits of digital public infrastructure in Washington DC, Union Finance Minister Nirmala Sitharaman said that loan processing cost has come down by 75 per cent due to DPI. He said that during the Kovid epidemic, $ 4.5 billion was transferred to the accounts of 16 crore account holders by DPI.
What did Nirmala Sitharaman say on the basis
The Finance Minister said that due to Aadhaar, e-KYC verification has become easier and the cost has also come down. He said that due to this there has been a reduction of 600 to 700 rupees in getting the customers verified.
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