According to an article published in the latest Bulletin of the Reserve Bank of India, between 2014 and 2019, India's digital economy grew 2.4 times faster than the general economy and created about 62.4 million jobs. The size of the digital economy has increased from US$ 107.7 billion in 2014 to US$ 222.5 billion in 2019. In absolute US dollar terms, India's digital economy displayed a growth rate (compound annual growth rate, CAGR) of 15.62 percent between 2014 and 2019, while India's gross domestic product (GVA) grew at a compound annual rate of 6.59%.
This shows that India's digital economy has grown 2.4 times faster than the Indian economy, says the RBI's Department of Economic and Policy Research.
India's core digital economy (hardware, software publishing, web publishing, telecommunication services, and specialized and ancillary services) has grown. It increased from 5.4 percent of Gross Value Added (GVA) in 2014 to 8.5 percent in 2019.
GSAT-6 not being fully utilized due to lack of ground facilities: CAG
The Comptroller and Auditor General (CAG) has found that the GSAT-6 satellite, launched in August 2015, has remained largely unused as the necessary facilities to process its data are not ready on the ground.
The Department of Space had launched GSAT-6 for Rs 508 crore, according to the CAG's compliance audit on scientific and environmental ministries/departments of the central government, but the satellite was unable to be used as intended due to the non-readiness of its ground segment. In its report tabled in Parliament on Tuesday, the CAG has said that half of the satellite's time was lost without proper use.
Director of the Capacity Building Program Office of the Indian Space Research Council (ISRO) N. Sudhir Kumar said we have to read the report properly and analyze the points raised in it. Either way, the department will take the necessary action as suggested in the report.
Also Read: World Bank: The World Bank has reduced China's growth forecast for 2022, from 4.3% to 2.7%
The government has also swung into action regarding the skyrocketing prices of tomatoes. Consumer
Prime Minister Narendra Modi's mother Heeraba is unwell. Hiraba was admitted to the UN Mehta Hosp
Changes are being seen in the weather of the entire North India including the country's capital D
The repo rate will remain at 6.5 percent, RBI Governor Shaktikanta Das announced after the MPC me
Pakistan, which sheltered terrorists, is currently struggling with terrorist activities. Because
IPL 2023 Points Table: IPL is back in the old style, see full points table here
The Indian Premier League (IPL 2023) started on Friday, 31 March. The final of the 16th season of
India is trying to show the path of peace and solidarity through its religious and cultural herit
IND vs BAN: What is the mantra of Team India's success in World Cup 2023? Hardik Pandya revealed
The Indian team has performed brilliantly so far in the ICC Cricket World Cup 2023. The Rohit Sha
The Indian team on Sunday registered its sixth consecutive win by defeating defending champions E
After giving the biggest blow to the opposition Indian alliance by defeating JDU in Bihar, the ma