Volume : VII, Issue : II, February - 2018

Digital platforms for growth: The Costs of Digital Economy

Rathod Praveen Lal

Abstract :

 

With the Demonetisation decision by the Prime Minister on November 8, 2016, there were efforts to give importance to cashless transaction. This is a part of the larger scheme of “Digital Economy”. Digital Economy is not a new concept. Much before demonetization, Digital Economy was being pursued. Significant impetus was given by the Government after demonetization was done. Digital Economy entails that all economic transactions are done in a digital format. This includes billing and accounting too. Digital Economy has its benefits like – swift transactions, overcoming geographical limitations, better accounting, easing electronic commerce etc.

                

              However, there are costs involved in migrating completely to Digital Economy. Digital Economy requires perennial supply of electricity and internet connectivity at all times. Apart from this, there are costs involved to acquire gadgets for each individual. For instance, when billing is done in a digital format, the customer is required to possess a gadget with internet connection, where the bill will be delivered. This also requires digital maintenance of records. This paper discusses the requirements for Digital Economy and suggests that Digital Economy should be implemented in a phased manner and there should be safeguard measures.

 

Article: Download PDF    DOI : https://www.doi.org/10.36106/paripex  

Cite This Article:

RATHOD PRAVEEN LAL, Digital platforms for growth: The Costs of Digital Economy, PARIPEX‾INDIAN JOURNAL OF RESEARCH : Volume-7 | Issue-2 | February-2018

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