AN IMPACT ON DIGITAL ECONOMY IN INDIA M
AN IMPACT ON DIGITAL ECONOMY IN INDIA
M.Krishnakumar Dr. M.Madhavan
Research scholar Assistant professor in economics
Department of economics Department of economics
AAGAC, Namakkal. AAGAC, Namakkal.
ABSTRACT
Digital economy is based on computer technology. Currently the use of digital system is increasing day by day. The use of digital technology is primarily in global markets. The main purpose of the digital economy is the cashless economy. The present generation is aware of all the information through digital technology. The entire population of the world is dependent on digital technology. The digital economy might say that creating new industrial revolution. The digital economy is dependent on our social and economic activity. Digital technology simplifies our basic needs and hard work. Creates a variety of jobs through digital technology. This gives employment to those who do not work. With the government, digital technology, people can easily and quickly add their services. The Government can provide internet access to people and improve their infrastructure. Their livelihood will increase by providing more internet facilities in rural areas.
Key words: Digital Technology, Cashless Economy, Industrial Revolution, Employment, Government, Internet.
INTRODUCTION
Digital Economics, Internet Economy, Digital India and Mac’s India. New market prospects and job opportunities become the biggest business opportunity. In the future, you may be unable to do any work or services without digital technology. The number of Internet users in India is now increasing. Digital India’s main objective includes infrastructure, education and internet services in rural areas. Using digital technologies for the government and private enterprises and individuals in digital economy can be done easily and quickly by the use of digital technologies. Digital technologies are used both locally and individually, to revise transmissions and to run new technologies. Most of the products are currently sold through the Internet. Hereby you can sell their products quickly and easily. This can provide more employment. This will increase the lives of the people and the country’s economy will rise.
HISTORY
In 1990, Dan Tapscoott, professor and economist at Japan, used the term “digital economy”. In the west the term followed and was coined in Don Tapscott’s 1995 book The DigitalEconomy: Promise and Peril in the Age of Networked Intelligence. . Prime Minister Narendra Modi on July 1, 2015 in the objective behind the program is to connect rural areas with high-speed Internet networks and improving digital literacy among them. “Economic resources of the country should be utilized for the well-being of the poor. The change will commence from this point.” – Said by Shri Narendra Modi. The Government is trying to implement various programs to expand digital technology. As a result, Bharatnat, Bharatmalah, Sagarmaala, and UDAN-RCS have been launched by the Bharat Broadband Network Limited (BSNL). Bharat network is expected to be connected to 6,25,000 villages in December 2018 through this network.
OBJECTIVES
The objectives of this research paper is to explain-
To study the Digital India programme how to improve the people life.
To study the impact on Indian economy,
To study digital use for Mobile and Internet users in India.
To study on Benefits and Imperfections in Digital India programme.
The opportunities and limitation of Digital India programme.
DATA COLLECTION
The secondary data source has been used for this, World Development Bank, Digital e-Book, newspapers, research papers, journals, magazines articles, reports and Online websites has been used. It is conceptual types of paper so more concentration on concept, uses and its effect on life of people as well on economy, thus related quantitative and qualitative data have been used.
IMPACT OF DIGITAL ECONOMY IN INDIA
India, which has 15% growth in globalization, is expected to become the second largest economy in the 2030s. The impact of digital economy in India is growing at a large scale. The key feature of the digital economy is the “moneyless economy”. Buying digital goods is increasing. It is very simple to make money. There is no need to carry money. Digital banking can be used to convert money from bank accounts, buy or sell goods through banks. Digital technology capability can be improved by simplifying services and jobs through public and private companies. In the next five years, it is possible to do any work and services without the use of digital technologies. Over the next 10 years, 40% of global markets are expected to increase sales of goods on the Internet.
THE DIGITAL ECONOMY USE OF MOBILE AND INTERNET IN INDIA
The number of people using mobile and internet in India is continuously increasing. According the table 1.1 show that the number of customers using mobile has increased by 85 percent by 2016. Similarly, the number of Internet users has increased to 123 million. In the future, the number of customers using them will be expected to increase. Presently, all the services of the government are provided through digital technology and easily and quickly reach people.
Table 1.1
Number of Mobile Users in India
(Percentage)
Year Mobile Users
2010 61.10494
2011 71.66747
2012 68.46206
2013 69.32039
2014 72.96069
2015 76.47171
2016 85.17093
Source: International Telecommunication Union, World Telecommunication/ICT Development Report and database.
Diagram 1.1
Table 1.2
Individuals using the Internet
(% of population)
Year Individuals using the Internet
2010 7.5
2011 10.1
2012 12.6
2013 15.1
2014 21.0
2015 26.0
2016 29.5
Source: International Telecommunication Union, World Telecommunication/ICT Development Report and database.
Diagram 1.2
Individuals using the Internet in India
Table 1.2 present that, this statistic provides information on the number of individual internet users in India from 2010 to 2016. In 2016, India had 29.5 percent of population using the internet. Despite the untapped potential, India already is the second-largest online market worldwide. The majority of India’s internet users are mobile phone internet users, who take advantage of cheap alternatives to expensive landline connections that require desktop PCs and infrastructure.
The number of internet users in India will reach 500 million by June 2018, a report by IAMAI and Kantar IMRB says. At the end of December 2017, India had 481 million users, growing 11.34% from 2016. According to the findings of the report, urban India witnessed growth of 9.66% from December 2016 and is estimated to have around 295 million internet users as on December 2017. On the other hand, rural India witnessed growth of 14.11% from December 2016 and is estimated to have around 186 million internet users as on December 2017.
Digital technology is used in the largest application education field. The curriculum of the students is improved by the digital system. The education of students in digital education is designed to be easily understood. This increases the quality of life and increases their education.
Benefits of Digital Economy
• Make digital payments simpler and quicker. You can get all services and cash transactions digital anywhere from anywhere in the world. More digital payments are very simple.
• Starting a free banking service to the people, the government is providing its service. This means that people can easily benefit from this.
• Providing electronic identification card to people can get full details of the people.
• Due to the use of digital services and services, cheating, bribery and crimes are possible.
• The digital locker has a lot of transparency without any transparency because the government handles its documents and keeps the documents more efficient, making it simpler through digital use. This reduces the loss of documents.
• Learning through digitally educated student and student education makes their education more effective.
• Sellers can easily and quickly sell products using online service. By doing so, they get a market and employment increases. Digital mode
• Developing high levels of employment for IT companies by digital technology increases the livelihood of jobless and employee workforce.
• With the help of digital technology we can learn all the events in the world in the intervening time. Emergencies need to be accessed through the internet and easily handle emergency situations.
• Through the introduction of Internet facilities in the countryside and awareness about it, we can learn about digital technology. Digital technology can be improved in rural areas.
Imperfections of Digital Economy
While digital technology has many advantages, there are some disadvantages too.
• Hacking is considered to be the biggest problem in digital technology. The hacking system involves great events involving great theft of digital technology. This allows us to know all of our details without our permission.
• In the rural areas they are not aware of the Internet. That’s why they do not know about digital details. They can be adjusted by providing awareness about digital.
• There are more ways to pay for digital payments and higher costs in rates.
• Their personal information and photographs on the Internet lead to a high level of emotional distress and the phenomenon.
• It is doubtful that the goods that are sold on the Internet are standard and fair. Online markets are also cheating.
Conclusions
Digital technology is a great blessing for us. The digital system can get all the services simpler. There is no doubt that this technology will reach the rapid economic growth of the country. The Digital India initiative is the beginning of a digital revolution, once properlyimplemented; it will create numerous new opportunities for the citizens. However, the DigitalIndia program success will associate with the regulatory framework. The Governmentcompletely ensures that these regulations create such an environment in which privateorganizations come in, work together and create efficient ecosystems. The Government roleshould be line with administration that is Maximum role of Governance and Minimum role ofGovernment, with these efforts India will be digitally ready within few years. Even though we have advantages in digital technology, we have to deal with them very carefully.
Reference:
1. Tapscott, Don (1997). The digital economy : promise and peril in the age of networked intelligence. New York: McGraw-Hill. ISBN 0-07-063342-8.
2. IAMAI and Kantar IMRB, http://timesofindia.indiatimes.com/articleshow/62998642.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst.
3. https://www.adb.org/news/events/understanding-digital-economy-what-it-and-how-can-it-transform-asia.
4. https://www.quora.com/What-are-the-advantages-and-disadvantages-of-the-Digital-India-initiative.
5. https://searchcio.techtarget.com/definition/digital-economy.
6. https://www.indianeconomy.net/splclassroom/what-is-digital-economy/.
7. https://www.surveygizmo.com/resources/blog/the-digital-economy.
8. https://hbr.org/2017/11/how-india-is-moving-toward-a-digital-first-economy.
9. https://en.wikipedia.org/wiki/Economics_of_digitization.
10. https://en.wikipedia.org/wiki/Digital_India.
11. World Development Indicators.
