Telangana News

Microsoft founder Bill Gates lauded Prime Minister Narendra Modi for his demonetization decision, saying that, it’s a “bold move” and will deflate India’s shadow economy.

Delivering the 2nd Transforming India Lecture organized by NITI Aayog, Gates said, “India has all the pieces in place for a compelling vision for digital financial inclusion. Aadhaar will convert a cumbersome, paper-based account opening process into a 30-second, all-digital system.”

Gates opined that Aadhaar will create a centralized data depository. He even referred to the health issues in the country, saying, “If I had a wand and could fix one health issue in India, it would be the malnutrition crisis. There are states that have made great progress, but there also are regions where malnutrition is the norm, not the exception.”

He even raised about the stunted children in India saying, “If (malnutrition) is unaddressed, the lifetime earnings potential of children who suffer from malnutrition will cost the Indian economy a staggering US $46 billion by 2030.”