New Delhi – The IMF has prepared a report titled ‘Staking up the Benefits: Lessons from India’s Digital Journey’, which praises India for creating the digital infrastructure of global standard. India has changed the lives of millions of Indians and helped transform the economy. The IMF advises other countries to learn from India.
India initiated linking Aadhar Card and UPI in the digital ecosystem. In the report, the IMF claims that India has tremendously benefited from a dynamic economy in conjunction with a paperless, cashless, and secure online payment system. This has greatly benefited the government and private companies. This was extremely useful during the Covid times.
By linking Aadhar cards to bank accounts, the government could transfer benefits and aid directly to individual bank accounts. The report highlights that the direct transfer benefit system has ended corruption and misappropriation of money. Especially during the pandemic, the government sent money to 87% of the poor and needy, making their lives easier.
A few days back, the IMF called India the bright spot amongst the global economic upheavals. Economists worldwide, including the IMF and the World Bank, have acknowledged India’s digital infrastructure, which has helped develop the Indian economy. The IMF is now advising other countries to learn from India.
