DIGITIAL INDIA AND A CONTEMPORARY ECONOMY PORTRAY: A REVOLUTIONARY STEP

Now days, we cannot imagine the world and even our life without technology. We are just like handicapped without technology like mobile phones, internet, computer, machines etc. In modern age of 21st century we are very much dependent on technology starting from home to industry. Number of schemes have been launched by Indian govt. to motivate the general public to go through the use of technology for their day to day transaction like online purchase of grocery-booking of movie tickets, railway tickets, air tickets, online shopping of garments, video conferences in the field of education, recruitment in various sectors, business meetings etc. The ease of conducting financial transactions is probably the biggest motivator to go digital. The study develops a conceptual framework to understand the working of digital economy. The paper highlights the various objective of being digital. It studies the different areas that gets affected by digitalization and the essentials for being digital. The benefits of making a country digital have also been included. The study examines the effect of adopting cashless payment on economic growth and development of the developing countries. In the last, suggestions are also given to make India a digital economy with the participation of every individual of the country.