Modi govt’s new mission is “1 billion-1 billion-1 billion” connectivity vision

NEW DELHI: Following Moody’s rating upgrade and the ‘historic’ 30-spot jump in World Bank’s in ‘ease of doing business‘, the Narendra Modi led Centre government had decided to come up with a unique and ambitious “1 billion-1 billion-1 billion” connectivity vision.
According to a report published in Times of India, the program basically aims at linking one billion unique Aadhaar numbers to one billion bank accounts and one billion mobiles.
“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,” official sources were quoted by Times of India as saying.
Earlier on Friday, US-based Moody’s upgraded India’s sovereign credit rating by a notch to ‘Baa2’ from its lowest investment grade of Baa, while changing the outlook for the country’s rating to stable from positive.
“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.
The rating upgrade comes after a gap of 13 years – Moody’s hadlast upgraded India’s rating to ‘Baa3’ in 2004. In 2015, the rating outlook was changed to ‘positive’ from ‘stable’.
With agencies input