Economic Review 2023 | Digital investments are India’s growth magnet for the next decade


The Indian government, in its Annual Economic Survey 2022 presented on Tuesday, emphasized the importance of leveraging technology as the country moves forward. The survey highlighted the role played by technology from industrial use cases to paying for social protection schemes and deconomic reforms driven by digital technology are a magnet for growth in the coming decade.

In addition, the survey predicts that exports of electronic products will reach $13.8 billion from April to November this year, compared to $8.9 billion in the same period last year.

“By transforming welfare through technology, Aadhaar and JAM Trinity have revolutionized the world of state-citizen interaction, enabling targeted delivery of direct benefit transfers (DBT) across 318 major programs and over 720 state DBT programs, seamless transfer of ration cards across states . “One Nation One Ration Card” and “eShram portal” through the database of national non-union workers,” the survey said.

Additionally, according to the survey, the government believes that any ground lost to improve the social sector due to the pandemic has been largely recovered thanks to rapid policy development and implementation. effectively combined with technology.

“Moving forward with a ‘minimum government, maximum governance’ approach, new developments will be key to achieving more equitable economic growth,” the survey said.

Digital services

According to the government, technology has changed the way India views public service delivery, policymaking and healthcare.


  • More than 130 million unique identifiers have been generated
  • Direct Benefit Transfer (DBT) in nearly 900 central and state schemes.
  • 1500+ crore transactions through Aadhaar enabled payment services
  • General service centers

  • Five million joint service centers to provide government services to every citizen
  • Dashboards and Apps

  • Agile, evidence-based policy development:
  • COWIN,
  • UMANG app

  • e-Shram Portal
  • Ambitious neighborhoods and blocks
  • Mission Jal Jeewan
  • Financial coverage

  • 56% of the 46 billion Yang-Dhan account holders are women
  • 8.7 million women have been mobilized into self-help groups under DAY-NRLM
  • Geolocation and drones

  • Due to effective implementation:
  • 5.2 crore of MGNREGS assets. and 7.7 million of rural objects. geolocation
  • Drone survey of 2.1 lakh villages under SVAMITVA
  • Teleservice

  • 9.3 million e-Sanjeevani teleconsultations
  • 517 crore training session on DIKSHA portal

    Electronic commerce

  • Open Network for Digital Commerce (ONDC)
  • Receivables Discounting System (TReDS)
  • Government Electronic Market (GeM)
  • According to the survey, digitization and technology integration in the rural economy was a key aspect of the rural development agenda in agricultural activities or management.

    “History has shown that when various aspects of human development, such as education, skills, employment, health and rural development, are linked to technology, global breakthrough innovation will continue to drive technology-enabled growth and prosperity,” the report added.

    Technology has provided a great opportunity to deliver last mile communication from government programs to targeted citizens. It has revolutionized service delivery by ensuring transparency and accountability. It needs to be used more to help the government achieve higher social SDGs (Sustainable Development Goals).

    According to the survey, the Fourth Industrial Revolution, or Industry 4.0 as it is commonly known, has emerged.

    “The transformation will integrate new technologies such as cloud computing, IoT, machine learning and artificial intelligence (AI) into manufacturing processes, increasing efficiency throughout the process. value chain. While the adoption of these technologies continues in Indian manufacturing, large-scale adoption is yet to take place. However, the enabling environment is rapidly evolving.

    According to the survey, in recent years India has made significant progress in Internet penetration, which is one of the key requirements for Industry 4.0. “The pursuit of self-sufficiency in semiconductor technology and manufacturing will help India build another pillar of this revolution – high-efficiency processing technology,” the survey said.

    However, all is not rosy, with the survey suggesting that public digital platforms are increasingly central to India’s digital ambitions. “NASSCOM’s August 2022 Quarterly Review shows that technology spending is expected to grow relatively slowly in FY23 due to an expected global slowdown,” the survey said.

    Also Read: Economic Outlook 2023 | The government expects inflation to slow, but slowly

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