In just 6 years: World Bank lauds India’s digital infra push, reality check for opposition
India is leading the Digital revolution worldwide and the World Bank’s G20 Global Partnership for Financial Inclusion document stands as another testament to the Indian government’s effort to shape the country’s Digital Public Infrastructure landscape. The report underscores the success of the Digital India initiative, disproving the attempts made by Congress to mock the Digital India campaign.
Commending India’s DPI for making a transformative impact and extending beyond mere financial inclusion, the World Bank report also lauded India’s remarkable achievements in just six years, accentuating that such accomplishments generally would have taken nearly five decades to achieve.
Chidambram mocked ‘Digital India’ in 2017
The report by a global financial institution identifying efforts made by the Indian government to make the country’s DPI a success thronges, in literal meaning, the efforts made by the Congress party to mock the Digital India campaign. Criticising the Modi government in 2017, Congress leader P Chidambaram said that one could not go to a village to talk about a cashless economy.
“You go there and the people ask ‘What digital?’ It is very difficult to get away with a lie. The best way to do so is to utter the biggest lie.” he said. But now Modi government’s promise to build robust digital public goods infrastructure has become a reality.
World Bank underscores ‘JAM Trinity’
Prepared in anticipation of the G20 Summit in New Delhi, the World Bank’s GPFI document underscores the significance of the ‘JAM Trinity’ (Jan Dhan, Aadhar, Mobile), which combines universal bank account access, Aadhaar identification, and mobile connectivity. It has set in motion India’s financial inclusion rate from 25 per cent in 2008 to 80 per cent of adults in the last few years.
“While DPIs’ role in this leapfrogging is undoubted, other ecosystem variables and policies that build on the availability of DPIs were critical. These included interventions to create a more enabling legal and regulatory framework, national policies to expand account ownership, and leveraging Aadhaar for identity verification,” the World Bank document said.
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