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Technology is the secret sauce for India’s transformation: Jayant Sinha

Jayant Sinha

Reiterating the government’s firm commitment on transforming India, Minister of State for Finance Shri Jayant Sinha cited the valedictory address at the 10th India Digital Summit of IAMAI.

According to Shri. Sinha, “There are 3 vectors for the transformation – Internet & Mobile; Green Technology and Transportation. All of them are inter-linked and technology is the secret sauce for India’s transformation.”

During his address, the minister cited that because of the Jan Dhan programme, every Indian can have a bank account. He went on to say, “If you look at it, it is technology which is driving most of the programmes of the government. The Social Security Platform, which the government is working on is dependent on technology. Technology will be pivotal for Social Security, as it will enable a transparent system with digital audit trail.”  Shri. Sinha stressed that “protecting and safeguarding privacy of the data” was paramount and the government will ensure it is protected.

Shri. Sinha highlighted once the architecture of the Social Security Platform is ready, the government will be reaching to various stakeholders for inputs.

Talking on the start-ups, Shri. Sinha said, “India is going to be the entrepreneur engine catering to 6 billion people of the world.”

Comment on net neutrality, the minister said, “Access to high speed broadband should be available to every citizen, without any restrictions.”

Earlier during the day, addressing the India Digital Summit, Rajeev Chandrashekhar, M.P. – Rajya Sabha, said, “Net neutrality as an issue was there for a while. What the regulator has done is great but differential pricing has not been defined properly.”

Speaking at a session Saurabh Garg, Jt. Secretary, Ministry of Finance, “More than 95% consumer transactions is cash form. Non-cash payments still to penetrate rural areas. There are various benefits of cashless transactions as the printing cost will also go down which is a win-win situation for both. Infrastructure of being able to use cards. Point of Sale machine needs to be get on place. There are many issues related to Security like theft which we will have to look into going forward.“

Earlier in the day, a report titled “Tapping the MSME Potential” by IAMAI – IMRB, which talks about building online presence amongst MSME businesses in India. According to the Report 61% of the India MSMEs believe that it is important to have an online identity for their business.


Niloy Banerjee

A generic movie-buff, passionate and professional with print journalism, serving editorial verticals on Technical and B2B segments, crude rover and writer on business happenings, spare time playing physical and digital forms of games; a love with philosophy is perennial as trying to archive pebbles from the ocean of literature. Lastly, a connoisseur in making and eating palatable cuisines.

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