Opinion: Modi’s most powerful technological revolution, a lesson for the developed countries of the world

Do you know that in a developed country like Germany, there is no system to transfer money directly to the citizens’ account on a large scale? It also takes 18 months ie up to a year and a half to make links like bank account and PAN. Even after that, their government system can only transfer up to one lakh DBT i.e. direct transfer of benefits in a day. This information has been provided on Twitter by Christian Odendal. Christian European Economic Editor is the famous The Economist K. In his latest article he has explained how the recession is affecting the economy of all of Europe. Although on Twitter, Christian also received a response that there is no doubt that Germany is not the best in technology, but that the rest of the developed countries in Europe can transfer money directly to the accounts of their citizens. This is a good question, the answer to which all developed countries must be looking for answers. Because under the leadership of Prime Minister Modi, India transfers money to its millions of needy citizens through a digital medium at the click of a button.

Instead, Prime Minister Modi’s government has demonstrated to the whole world how easy it has become to transfer money directly into the account of the people of the country by linking mobile phones, identity cards and bank accounts. Under the Prime Minister Kisan Samman Nidhi Yojana, financial assistance of Rs 6,000 is given to eligible farmer families every year. This amount is transferred to the farmers account in three equal installments of two thousand rupees each. These installments come every four months ie thrice in a year Rs 2000-2000 is sent to the farmers account under the scheme. The central government transfers this money directly to the farmers’ account. So far, the tenth installment of two thousand rupees was transferred to the farmers’ bank account on January 1, 2022. In this, a total of 20.9 billion rupees was transferred to more than 10.09 million farmers.

That is why Union Minister of State for IT Rajiv Chandrashekhar said that today India is one of the leading countries in the world in terms of digital payments and has become a strong country in the face of world where technology is used to improve the standard of living and the rule of the common man is being done to improve it. Rajiv Chandrashekhar believes that today the stature and use of digital media in India has increased so much that the rest of the developed countries of the world are lagging behind. Due to the vision of PM Modi, India is leading in the use of digital technology, while on the other hand the digital medium is taking India forward.

In other words, Digital India has its own Made in India i.e. Made in India and tried and tested solution for every problem where money can be transferred to millions of people at the click of a button. The special thing is that no one has any problems. Grants are transferred every month during Prime Minister Modi’s regime in a country full of diversity and inequality like India. Every quarter, the central government directly transfers money to 110 million farmers in their accounts under the Prime Minister Kisan Nidhi Yojana. When before the first wave of Kovid, money was transferred through digital means to the Jan Dhan accounts of 220 million women by opening women’s accounts. So far, there is also a lesson for countries and rating institutions that consider India as a developing and third world country. India transferred (in FY 2021-22) an average of 9 million DBT payments per day. Under the Prime Minister Kisan Samman Nidhi Yojana, up to Rs 1,900 crore (95 million one-click transactions) were directly transferred into the bank accounts of 95 million beneficiaries in a single day. In terms of digital payments, more than 8.8 billion digital payments were made during 2021-22. In the current financial year up to July 24 (2022), about 3.3 billion transactions have been made. There are 284 million digital transactions in a day and 53 million Aadhaar authentications done per day. At the same time, 70 lakh income tax returns have been filed on July 31, 2022 alone.

Obviously, when developed countries like Germany do not have a digital infrastructure such that money can be deposited directly into the account of their citizens, what will happen to the rest of the countries? During PM Modi’s government for the last 8 years, so much emphasis was placed on digital infrastructure that when the poor in faraway areas needed money during the Corona period, the money was directly transferred to their accounts. Now facilities like Aadhaar, PAN, voter ID, zero balance accounts for the poor, digital payments have reached cities and towns. This is a lesson that developed countries around the world can learn from India on how technology can be used for the benefit of the masses.

(Disclaimer: These are the personal views of the author. The author himself is responsible for the correctness/accuracy of any information provided in the article. News18Hindi is in no way responsible for this)

Tags: PM Narendra Modi

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