On Thursday, Ashwini Vaishnaw, the minister of information technology, announced that the government will be investing about $30 billion to bring 4G & 5G coverage to every rural corner of the country.
Vaishnaw made this claim at the ‘Global Fintech Fest 2022,’ where she was representing the government.
“We are now creating a whole ecosystem of village entrepreneurs, channelising the energies of youngsters to take good quality, high-speed data connectivity to every village in the country while making them a part of the growth journey,” emphasised the minister.
“We have tested this model and approximately 80,000 new connections are now being facilitated every month,” he also said.
According to Vaishnaw, the government should focus on three aspects of fintech: establishing a reliable digital infrastructure, creating a digital regulatory framework, & addressing the social inclusion & societal imperatives associated with fintech.
The minister explained that telecom is the backbone of Digital India and shared his thoughts on the digital regulatory framework.
“Prime Minister Narendra Modi has given us a clear mandate to overhaul our digital regulatory framework such that it is globally benchmarked and endorses global competitiveness,” said Vaishnaw.
Whereas a project was taken up on a shared mobility infrastructure, he noted, “the way technology has evolved over the last 5-10 years, I think instead of a card, probably the mobile phone itself will become the common integrating factor” integrating payment systems across transportation sectors was still a priority.