Economic Survey 2016: Mobile networks a key tool for financial inclusion

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New Delhi | Published: February 27, 2016 12:56:09 AM

The Economic Survey 2015-16 has identified mobile networks as one of the key tools for financial inclusion and calls for enhanced mobile payments technology using 4G...

The Economic Survey 2015-16 has identified mobile networks as one of the key tools for financial inclusion and calls for enhanced mobile payments technology using 4G (fourth generation) mobile services launched by telecom companies which would prove to be a game changer.

“India should take advantage of its deep mobile penetration and agent networks by making greater use of mobile payments technology. Mobiles cannot only transfer money quickly and securely, but also improve the quality and convenience of service delivery,” said the Economic Survey.

The Survey pointed out that the introduction of 4G could be a game changer and inclusion of fibre optic connectivity, which will tremendously raise the reach and bandwidth along with greater use of mobiles in government’s social sector programmes besides the service sectors.

It also called for enhanced connectivity through optical fibre networks, which would transform the delivery of these programmes and boost the telecom sector growth. It said the growth of telecommunications is one of the key drivers of socio-economic development and the performance of the telecommunications sector during 2015-16 has been encouraging.

Tech push
* The Economic Survey has identified mobile networks as one of the key tools for financial inclusion
* The Survey pointed out that the introduction of 4G could be a game changer and inclusion of fibre optic connectivity
* It also called for enhanced connectivity through optical fibre networks

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