Health Care Revolution to FinTech Innovations: Future Landmarks India aims to achieve

FinTech Innovations

In the financial sector, technology has been a game-changer. Financial technology, popularly known as FinTech, has reshaped the landscape of banking and financial management, making these processes more accessible and convenient than ever before. Innovations such as mobile banking, digital payments, and robo-advisors have simplified financial tasks, making them quick, secure, and hassle-free.

Healthcare Revolution

The digital health ecosystem has witnessed remarkable growth over the past decade, with numerous healthtech startups emerging to tackle healthcare challenges. While tech giants like Apple, Google, and Amazon have made significant forays into healthcare, healthtech startups have managed to not only survive but thrive.Healthtech startups have achieved success by leveraging their extensive industry knowledge and experience, which sets them apart from tech giants. These startups have dedicated years to understanding healthcare needs, developing tailored solutions, and building strong customer relationships.While tech giants have introduced groundbreaking products and services, healthcare cannot be entirely automated. As we move forward, we aim to revolutionize healthcare by investing in state-of-the-art medical infrastructure, promoting medical research and development, and bolstering healthcare services in rural areas. Our vision is to provide affordable and high-quality healthcare to all citizens, ensuring a healthier and more productive population.

Eradication of Poverty

India takes longer strides in poverty alleviation India has achieved the unimaginable feat of lifting 415 million people out of poverty in just 15 years, thanks to the special measures and schemes, which addressed multi-dimensional challenges, associated with health, education, and living standard, with great efficiency.In 2019, India was credited for pulling 271 million people out of poverty between 2006 and 2016. In the next five years, the figure touched 415 million, underlining the fast pace India is carrying out its poverty eradication drive at.The positive results shown by the government of India's efforts have been appreciated by the International Monetary Fund (IMF) and the World Bank. The IMF said India’s extreme poverty remained below 1 percent even during the Covid-led pandemic when it had increased globally. Now, the percentage of extremely poor is expected to go below 3 percent in India by 2024, as per the World Poverty Clock. India tops the list of 25 countries that halved multidimensional poverty in 15 years, as per the latest Multidimensional Poverty Index (MPI) that is jointly prepared by the UN Development Programme (UNDP), the Oxford Poverty and Human Development Initiative (OPHI). 

“Notably, India saw a remarkable poverty reduction, with 415 million people exiting poverty within a span of just 15 years,” reads the report. “The poorest states and groups, including children and people in disadvantaged caste groups, had the fastest absolute progress.” Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) turned out to be a game-changer for India’s poverty alleviation efforts. The scheme, which gives a legal guarantee of 100 days of employment every year, is responsible for reducing poverty by a third. India needs to hold more vigorous drives to achieve the first of the 17 Sustainable Development Goals — to end all forms of poverty by 2030.The government of India undertook a slew of measures and implemented effective schemes to enhance the pace of poverty alleviation in the country. The constant upward economic growth of the county has had a positive impact on poverty eradication. However, India’s special emphasis on financial inclusion played a crucial role in lifting poor communities out of poverty. A scheme named ‘Jan Dhan Yojana’ has helped enrol 495.6 million people in the banking system, of which 330 million are from rural areas while 275 million are women. India needs to hold more vigorous drives to achieve the first of the 17 Sustainable Development Goals — to end all forms of poverty by 2030.