Key Points
India's world-class digital public infrastructure (DPI), also referred to as the India Stack, has enabled online, paperless and cashless digital access to various public and private services, according to the review of the economy released by the economic division in the finance ministry..
"India's digitalisation reforms and the resulting efficiency gains in terms of greater formalisation, higher financial inclusion, and more economic opportunities stand as a model for other economies to follow," the report said...
Digital infrastructure has enabled the creation of digital identities, improved access to finance, access to markets, reduced transaction costs and improved tax collection, and has provided the foundation for sustained and accelerated economic growth this decade, it said..
"The India Stack consists of three interconnected layers - the identity layer (Aadhaar), the payments layer (Unified Payments Interface, Aadhaar Payment Bridge, Aadhaar Enabled Payment Service) and the data layer (account aggregator)," it said...
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