Affordable smart phones

In a move to further thrust its daily cash-less dealings among the people, the government has told local mobile cell manufacturers to produce smart phones costing less than Rs2,000 per unit.

#Niti Aayog, the National Institution for Transforming India, has told has stressed on local manufacturers #Micromax Informatics Ltd, #Intex, #Lava and #Karbonn to make affordable smart phones for the local.

Currently, the cheapest 3G smart phone costs Rs.2,500.

The government aims to increase mobile cells for financial transaction from anywhere in the country, The Economic Times reported Jan 9, 2017, citing industry executive.

About 300 million of the billion mobile phone users in India holds holds smart phones with rural teledensity of just above 50 per cent compared to major cities’ 200 per cent.

This will require local manufacturers to make fresh investments in production lines to pile up inventories instead go for demand-based output.

The government has also make it clear that there will be no subsidy in any form.

The government’s #Bharat Interface for Money (BHIM), launched recently, is another initiative for digital or cash-less transactions and comes on following the demonetization launched on November 8, 2016. BHIM is a 31-bank connected platform.

The government has cracked down on black money, a cash-flush second economy that supported un-recorded dealings across the economy.

Demonetization has replaced Rs.500 and Rs.1,000 currency notes from circulation. But its progress in making new notes available has been slower than anticipated. fii-news.com