Aadhaar helped people avail government benefits: Nobel laureate Paul Romer
Paul Romer on Monday said Aadhaar is the most important technological system in the world right now and it has laid the foundation of a platform to enable people to avail government benefits, including direct benefit transfer. Speaking at the NDTV World Summit, Romer said that a similar platform could not be set up successfully in the US because they were monopolised by the private sector.
«Aadhaar is the most important technological system in the world right now. Aadhaar solved only one problem. Present a person to me, and I will tell you what that person's number (is).
»… But with that foundation, you can then build all of these fantastic services that you now enjoy," he said.
The 2018 Nobel Prize for Economics recipient noted that the government in India was not afraid to indicate how it would be used in something like Unified Payment Interface (UPI) and Direct Benefit Transfer (DBT).
«What people in India saw is that they could build a platform of Aadhaar that was controlled by the government and could be used for the benefit of the people, not to generate wealth for just a...small subset of people,» he said.
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