Phase IFoundation
Background
Overview
This concept is crucial for understanding the economic rationale behind government interventions in the digital economy, the role of public goods in development, and the policy implications for financial inclusion and economic growth in India.
Public goods are non-excludable and non-rivalrous, meaning their consumption by one individual does not reduce availability to others, and it is difficult to exclude anyone from using them. Providing essential infrastructure like payment systems as public goods can significantly boost economic activity and financial inclusion.