Narendra Modi Government’s New Connectivity Mission: 1 Billion Aadhaars, 1 Billion Bank Accounts, 1 Billion Mobiles to be Linked Soon
New Delhi, November 18: Following Moody’s rating upgrade and 30-spot rise in ‘ease of doing business‘, Narendra Modi led Centre had decided to come up with unique and ambitious “1 billion-1 billion-1 billion” connectivity vision.
The program basically aims at linking one billion bank accounts to one billion Aadhaar numbers and one billion mobile phones, reported Times of India.
“The target follows the success of demonetisation in bringing about a substantial Rs 6 lakh crore reduction in value of high value notes that would have been in circulation and a rising trend of bank accounts and digital payments,” TOI quoted official sources as saying.
Though no deadline has been set yet to achieve the target, the government is reportedly confident that the “1 plus 1 plus 1” figure will be attained soon.
Earlier on Friday, the US-based Moody’s Investors Services upgraded India’s sovereign rating to Baa2 from its lowest investment grade of Baa3 after 13 years, saying the country was poised for fast growth because of wide-ranging economic and institutional reforms by Modi government.
“The decision to upgrade the ratings is underpinned by Moody’s expectation that continued progress on economic and institutional reforms will, over time, enhance India’s high growth potential and its large and stable financing base for government debt, and will likely contribute to a gradual decline in the general government debt burden over the medium term,” Moody’s said in a statement.
Moody’s had last upgraded India’s rating to ‘Baa3’ in 2004. In 2015, the rating outlook was changed to ‘positive’ from ‘stable’.