A topper · GS3 · 52 pages

Harshvardhan Ashok Tidke: GS3 answer copy

20 answers by Harshvardhan Ashok Tidke, as written in the test. Each question opens a page with how other toppers answered it.

The questions

The answers

Question 1 · 10 marks · 162 words written

What factors have expedited the digitalization of the economy in the recent past? Explain with suitable examples.

Opening · a figure

Indian economy in financial year 22-23, had 1/10th of all its GVA, through digital services & products (Digital economy) & is expected to reach 1/5th by 2026.

Body · points

  • RBI digital economy report.

Factors that have facilitated Digital economy spread

1] focus on financial inclusion ↳ governments focus on financial inclusion (eg PMJDY) more than 55 cr+ accounts

2] Access to Internet

  • 2.1 Mobile access → nearly 750 million smartphone users currently
  • 2.2 cheapest data rates of the world, nearly 55% internet penetration.

3] JAM trinity → Jan Dhan ↘ Aadhaar → Mobile Focus on direct benefit transfer payments. (UPI)

4] Rise of digital services, startups etc → India 3rd largest startup ecosystem, Fintech startups booming.

Diagram
- Central Node: Other reason - Arrow from: focus on DPI creation - Arrow to: Rise of E-commerce businesses - Branches from 'Other reason': - Innovative services (e-wallet etc) - Initiatives by banks (Bank correspondents)

However Digitalisation needs to address problems to scale itself up → Rural urban divide → Literacy (financial & cyber) → Cyber security & scam (digital arrest)

Close · a way forward

Thus aforementioned problems can be solved through internalisation of DPI principles, which were India's priority during G20 2023 presidency