Page 6 - India Stack News Today

While AI is poised to impact certain job roles in the economy, it will concurrently create more opportunities, Verma said.

The Centre’s ambitious DPI initiative has found multiple mentions in the implementation document of Budget 2023-24 announcements. 

Two years since its launch, ONDC is struggling to achieve scale. At a time when its venture capital-backed e-commerce rivals are reducing cash burn, the platforms strategy is raising a few important concerns.

In an interview with Doordarshan, Union finance minister Nirmala Sitharaman talks about the budget’s attempts to present people with uniform opportunities with a focus on welfare. Edited excerpts: | Latest News India

Finance Minister Nirmala Sitharaman began the presentation of Union budget 2023 in the Lok Sabha by informing that Indian economy is expected to grow at 7% this fiscal.

Capital expenditure outlay has increased by 11.1 per cent to Rs 11.1 lakh crore. Fiscal deficit for FY 25 has been pegged at 5.1 per cent of GDP; GYAN (garib, yuva, annadata, narishakti) identified as key pillars to drive development.

At a time when private capex is expected to revive, the government’s commitment to cut its expenses will bode well for the cost of borrowing of the private sector.

NBFCs are well placed to harness the India Stack in ensuring last-mile credit delivery to the smallest business or remotest retail customer. For this, NBFCs will have to expand their capital base, and diversify across other sources of credit like debt markets and public deposits. Public deposits can be a cheap source of capital for upper layered large NBFCs, the benefits of which can be passed on to borrowers.

Spurred by the success of digital public goods and infrastructure such as CoWin and UPI at home, India wants to share the technology with emerging economies

The report noted that as the pandemic disrupted economic activities, the government responded swiftly, leveraging the strength of digital public infrastructure, commonly known as India Stack, to facilitate online, paperless and cashless access to various public and private services