A Cashless and Digital India? Will it get there?
Now, 9th Nov 2016 is synonymous with demonetization and will go down in history as a bold drive by the government of India. This was also a move from the government to make the masses move towards cashless and online transactions. For people to do this, the internet would be required. Then how many people do have the Internet to join the online bandwagon? Currently, official statistics say that 28% of the population has access to the Internet. In numbers around 367 million Internet subscribers. This does not actually mean that subscriptions equal 367 million Indians as there are many with more than one connection.
With increasing competition, telecom companies are introducing lower tariff data plans. The growth in numbers of internet connections is growing a good and steady pace. Most of the connections belong to cities with villages taking a long time to adopt it. A good number is currently stuck with slower speeds. It will be a few more years before India goes truly digital.