Category Entrepreneurship, ICT and Innovation

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Scaling UPI: The Economics Behind NPCI’s New Operational Limits

Although the Unified Payments Interface (UPI) has been operational for a decade, it does not exhibit the obsolescence typical of legacy infrastructure; rather, it currently faces challenges associated with rapid and unprecedented scalability. NPCI launched it in April 2016 to make bank-to-bank transfers instant and interoperable, so a payment from any bank app could reach any other bank account without the usual friction. The decision that really made it explode came later: in January 2020, the government set UPI’s Merchant Discount Rate to zero, so neither payer nor payee would ever see a fee. That single choice is arguably why the neighbourhood vegetable seller and the metro-station tea stall started accepting UPI as readily as a large retail chain.

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Research, Development and Innovation (RDI) Scheme: Strengthening India’s Innovation Ecosystem

Innovation has become a major driver of economic growth and global competitiveness. Countries investing heavily in research and development (R&D), such as the United States, China, South Korea, and Germany, have established leadership in advanced technologies. However, India's Gross Expenditure on Research and Development (GERD) remains significantly below the global average, with limited private-sector participation.

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PRAGATI 52: Strengthening Digital Governance and Infrastructure Delivery

The Pro-Active Governance and Timely Implementation (PRAGATI) platform is an Information and Communication Technology (ICT) enabled governance initiative launched by the Government of India under the leadership of Prime Minister Narendra Modi in March 2015. PRAGATI facilitates direct interaction between the Prime Minister, Union Government Ministries and State Governments to monitor major infrastructure projects, flagship government programmes and public grievance redressal. The platform seeks to enhance transparency, accountability and timely implementation of public policies while simultaneously strengthening federalism, all by integrating various levels of governance through real time communication and data sharing.

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Varanasi Digital Twin Project: Reimagining Urban Planning and Governance

The Urban Spatial 3D City Model (Digital Twin) Project is a key initiative of Varanasi Smart City Limited (VSCL). The project aims to use geospatial technologies to improve urban planning, urban governance and public engagement. The city of Varanasi was selected due to its unique combination of historical and cultural value, its dense urban development including narrow streets, busy markets, heritage and religious places and an influx of tourists and pilgrims.

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