Saturday, October 18, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Banking & Finance

India on verge of a trillion-dollar digital economy

Fiinews by Fiinews
May 22, 2019
in Banking & Finance, Economy, Industry Sectors, Technology
Reading Time: 2 mins read
A A
0
0
SHARES
10
VIEWS
LinkedinShare on Twitter

Support needed for digital infrastructure

 

 

India is now the verge of a trillion-dollar digital economy but needs financial support to develop the infrastructure across the country.

This call was made by the Ministry of Electronics and Information Technology (MeitY) on presenting the “Harnessing India’s Digital Opportunity”report during a meeting with the Fifteenth Finance Commission on 21 May 2019.

The detailed presentation was made by the Secretary, MeitY, Ajay Prakash Sawhney.

It may be recalled that as per the Terms of Reference of the Commission, the Commission is required to make recommendations on such matters:

“Commission shall have regard to the demands on the resources of the Central Government particularly on account of defence, internal security, infrastructure, railways, climate change, commitments towards administration of UTs without legislature, and other committed expenditure and liabilities.”

The Ministry held in its presentation that the world economy was getting increasingly digital, and it detailed the disruptive potential of digital technology which is accelerating transition.

Elaborating on the digital profile of India, the Commission was briefed by Ministry that India was standing on the verge of a trillion-dollar digital opportunity.

It was stressed that large scale digital transformation is possible, however, India can and must prepare for it.

In its Memorandum to the Commission, MeitY has made some specific suggestions:

The Digital India programme requires unprecedented IT capability for States and Union Territories to achieve its objectives and transforms India into a digitally empowered society and knowledge economy.

The continuation of the ICT infrastructure and capacity building schemes is vital for States/UTs to build ICT capability towards the implementation of the ‘Digital India’ programme.

It has asked for allocation of funds for these projects.

As the National e-Governance Plan (NeGP) is not a Centrally Sponsored Scheme anymore, the Ministry has asked for separate funds for the NeGP Scheme.

It has proposed continuous Union support for funding under CSS the implementation of the core ICT infrastructure such as State Data Centres (SDC), State Wide Area Network (SWAN), State Service Delivery Gateway (SSDG), e-Districts etc.

The Ministry has also asked the Commission to consider the following criteria while allocation of resources and proposing performance-based incentives to States for Digital Infrastructure, Electronic Manufacturing and Digital Payments.

The Commission assured MeitY that it would take into consideration all the issues raised by the Ministry in making its final recommendations. fiinews.comMinistry of Electronics and Information Technology (MeitY) on presenting the “Harnessing India’s Digital Opportunity”report during a meeting with the Fifteenth Finance Commission on 21 

Tags: Fifteenth Finance CommissionMinistry of Electronics and Information Technology
ShareTweetShare

Related Posts

Zscaler
Technology

Tech: HCL-Zscaler expand partnership

by Fiinews
October 17, 2025
0
11

AI-driven capabilities for modernizing global businesses HCLTech, a leading global technology company from Noida, and Zscaler™, a leader in cloud...

Skylark Drones
Technology

Tech: Skylark-Sensonic to work on rail safety

by Fiinews
October 17, 2025
0
13

Pai says aerial systems can make critical infrastructure safer Skylark Drones, a pioneer of the Indian Drone ecosystem from Bengaluru,...

CPMA

Tech: Chemicals industry to provide solutions

October 17, 2025
12
NHSBA

Tech: Infosys gets 15-year contract with NHSBSA

October 15, 2025
16
VIT

Tech: Deaken-VIT offer Cyber Security program

October 15, 2025
20
Google

Tech: TechBharat-Google AI CoE for public good

October 14, 2025
14
SBI YONO
Sabit

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Technology: Impact of FinTech conferences on students and future opportunities in industry

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Market: Hindustan Zinc lowers production cost
  • Project: Haldia MMT handed to IRC for operations
  • Tender: Accelerated approvals given to airports
  • Export: India negotiate FTAs on own terms
  • Manufacturing: LCA and HTT-40 Lines inaugurated

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.