The Indian economy is predominantly cash-driven with only 5 per cent of the country's Personal Consumption Expenditure done electronically. This shows that there is a huge unexplored market for payment companies. It will require all players across the payments value chain to create much greater innovation in payment services.
It was a prudent move for Prime Minister Narendra Modi to revive the e-governance scheme with renewed vigour. As Gujarat chief minister, he has used IT as a tool to improve governance not just at the top level but also at the grassroots levels. It is the success in Gujarat that emboldened him to implement the e-governance scheme at the national level.
Aadhaar provides citizens with an identity, but it should not be confused with entitlements, Secretary of the Department of Electronics and Information Technology (DeitY) Ram Sewak Sharma said at Skoch Summit here.