Insights
Digital public infrastructure as a growth enabler
February 8, 2023An integral aspect of the Indian Union Budget 2023 is the accentuation on Digital Public Infrastructure as a catalyst for growth. The implementation of key elements such as Aadhaar, Jan Dhan Yojana, India Stack, and UPI has been instrumental in our digital development and will continue to be so in the future.
The proposed establishment of a National Digital Library is a commendable step towards mitigating the divide in access to information between urban and rural populations across diverse socio-economic segments.
Artificial Intelligence, while previously the domain of technology companies and startups, has the potential to be further invigorated with the proposed establishment of AI labs. The reinforcement of DigiLocker as a comprehensive data management solution for various government agencies represents a critical progression towards streamlining processes. This must, however, be considered in the context of the draft Digital Personal Data Protection Bill, the Indian Telecommunications Bill 2022, and the proposed National Data Governance Policy.
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Digital Public Infrastructure is dependent on the robustness of telecommunication networks. In India, mobile connectivity prevails with low penetration of fixed lines. The proposal to establish 5G labs in engineering institutions for the development of applications in diverse sectors such as education, agriculture, transport systems, manufacturing, and healthcare is a positive step.
India, now the world’s most populous country, faces the challenge of providing opportunities for its 900 million strong workforce and capitalizing on the demographic dividend. The initiation of thirty centers under the Pradhan Mantri Kaushal Vikas Yojana 4.0 for the training of young individuals in areas such as Artificial Intelligence, robotics, mechatronics, IOT, 3D printing, drones, and soft skills is an effort towards equipping them with the necessary skills for availing future opportunities.
With an estimated annual economic output growth of over $400 billion and the potential to exceed $500 billion post-2028, India is poised to be one of only three economies capable of such growth. This can be achieved through the substantial allocation of 3.3% of GDP towards physical infrastructure, considering the moderate private sector investment outlook and the global economic and monetary scenario. However, the realization of this growth potential is contingent on a robust digital public infrastructure.
This article was originally published in Financial Express on 8 February 2023 Written by: Jaideep Ghosh, COO. Click here for original article
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This is intended for general information purposes only. The views and opinions expressed in this article are those of the author/authors and does not necessarily reflect the views of the firm.
