While participating in a World Bank panel discussion on Digital Economy for Development, Nandan Nilekani, the architect of Aadhar Scheme, said that this programme launched by previous UPA government has helped India save about $9 billion. As all thanks to Aadhaar scheme frauds in the beneficiary lists are eliminated to a great extent.
This system has been enthusiastically supported by the current government led by Prime Minister Narendra Modi, and Finance Minister Arun Jaitley, said the 62-year-old non-executive chairman of Infosys, India’s second-largest software services firm.
More than billion people are registered under this scheme, that provides each individual with Unique Identification Number, which further eliminates any duplicacy on beneficiary or employee list. He also believes that by building the right digital infrastructure you can leapfrog. In this digital era, identity authentication, frictionless payments, as well as paperless transactions play a very important role in the nation’s economy. For more information on various schemes linked to this identification based mechanism, you can visit Sarkariniti.
India is the only country in the world where a billion people can now enjoy cashless transactions through their mobile phones using this infrastructure that will eventually reduce costs. Once the costs are reduced, inclusion will happen automatically, added Nilekani on this fundamental strategic outlook.
He also said that the question of how data use can address inequality has not been discussed enough, but a unique digital ID is a good way to authenticate oneself through a system and get the own data out.