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| Digital India winning battles | | |
India’s digital wallet transactions are all set to overtake cash dealings as more and more people are using technology to carry out daily transactions.
From purchasing groceries to furniture the payment methods like G-Pay and M-Pay are being used across the country.
The digital transactions are set to surpass cash as Unified Payments Interface (UPI) is increasingly becoming the most preferred payment mechanism in the country.
The digital transactions have made the lives easy for people and have led to every rupee being counted for. Circulation of black money has taken a hit as the stringent laws have made illegal transactions difficult.
Prime Minister Narendra Modi recently stated that the cross-border connectivity between the UPI and PayNow of Singapore has led to about 74 billion transactions amounting to more than Rs 126 trillion, which is approximately 2 trillion Singapore dollars.
A large number of transactions via UPI demonstrate that this indigenously designed payment system is very secure.
After 2014, when Narendra Modi took over as the Prime Minister of India, the concept of digitization has led to India emerging as one of the thriving economies in the world.
It has become the fifth largest economy thus overtaking Britain.
The revolutionary steps taken by PM Modi led dispensation have taken India to new heights and have sent a clear message to the world that “New India” has been built.
The present regime has focused on all the aspects of development and has taken a tough stand against terrorism and the Hawala money which was pumped into J&K through illegal channels to sustain Pakistan sponsored terrorism.
The investigating agencies have broken the back of terrorism in the Union Territory and have ensured that the terror ecosystem is shattered.
The government keeping a close watch over the transactions and shifting to digital mode have led to the menace of fake currency being controlled to a great extent.
Pakistan was instrumental in pumping fake currency into India, especially in Jammu and Kashmir. But the stringent steps and laws have turned the heat on the adversaries.
The “Digital India” is fighting multiple battles and is emerging victorious on all the fronts. |
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