DIGITAL INDIA: IMPACT ON INDIAN ECONOMY

Digitalization which is the need of today's world is the result of innovations and technological advances. Every country is aiming to achieve digitalization to empower society in a better way. Digital India is a flagship program launched by the Government of India to transform India in a digitally empowered and knowledge economy. The main objective of this scheme is to make India digitally empowered in technology. It is also to ensure that government services are accessible by the citizens electronically by improving online infrastructure as well as internet connectivity. The vision of digital India is the development in the field of electronic services, products, manufacturing, job oriented schemes etc. Digital technologies including mobile application and cloud computing plays an important role in rapid development for economic growth and creating digitally empowered Indian citizen across the world. Digitization will have far-reaching implications for the corporate, household and public sectors. The big upside for the economy will come from better credit delivery. The lack of formalization (read: lack of legal status) limits access to new markets and deters the formation of business linkages, while a lack of access to credit inhibits the ability of corporates to leverage and grow.