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Emerging digital economy – a cashless perspective in India challenges in India

Author Affiliations

  • 1G.S. College of Commerce, Wardha, MS, India

Res. J. Management Sci., Volume 6, Issue (8), Pages 14-17, August,6 (2017)


Today’s economic activities are driven by the use of digital platforms which enable transmission of information by the use of worldwide network. Use of digital technologies enables transformation of public life and has a significant impact on socio-economic development of people and economic development of the country. The government initiatives are driven towards creating an environment where good governance is possible by use of digitization. The growing use of technologies, in commercial environment leads to various innovation in digital payments like debit cards, credit cards, ECS, NEFT, RTGS USSD, UPI, Aadhar based payment system etc. making access to various products and service at the doorstep of the consumer. Digital economy on the one hand provides easy access to products and services, but on the other hand transmission of personal information poses financial risk as well. Digital platforms have two potential risk i.e., transmission of confidential information of business and public and lack of network security resulting to unauthorized access. Evolution and innovation is prerequisite for digital economy but the cashless model is still at nascent stage and yet to answer how effectively and efficiently it is to be used. This paper elucidates the various initiatives taken by the government towards digital economy before and after demonetization and its contribution to India’s GDP in near future.


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