Digitization of India - Impact on the BOP Sector

Abstract

India is the fastest growing economy in the world. It is also the seventh largest economy in theworld by GDP measure and the second largest in terms of Purchasing Power Parity (PPP). Thedigital Indian plan was a major step by the government in India to bring all segments intopurview. It has a three pronged agenda of providing infrastructure, governance and digitalempowerment to every citizen. This initiative will transform the economy of the nation and makeit among the top seven countries globally to go completely digital. But, inherently this exercisewas a critical need to get the vast population and the informal sector into the folds ofaccountability and get statistics on the informal economy in India. Although, there is no accuratefigure defined as BOP for the Indian sector by the government statistical organizations, thebelow poverty line statistics published by the government look at people living on even less than$ 0.45 per day. Such being the socio economic situation with the thrust on a lot of developmentalmeasures and poverty alleviation methods, there has been a significant improvement inemployment opportunities and as per some statistics we have seen a large number of householdsmoving out of dire poverty. The importance of these digitization efforts is planned economic andsocietal growth triggered by a massive adoption of digital technologies. This paper studies thevarious action plans in digitization and their impact on the BOP sector in India.