25, February 2026

A Study of Digital Transaction and GDP Growth in Context of India: An Empirical Analysis

VOLUME-12; ISSUE-2; FEB-2026

Author(s): Dr. SHALINI SUMAN

Authors Affiliations:

Assistant Professor, University Department of Economics, Tilka Manjhi Bhagalpur University, Bhagalpur.

DOIs:10.2015/IJIRMF/202602023     |     Paper ID: IJIRMF202602023


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This study undertaken analyses the relation between digital payment expansion and the growth of economy in India during the period of 2016–2024, with particular emphasis on the Unified Payments Interface (UPI), financial inclusion under the PMJDY, and the policy framework of the Digital India and Jan Dhan–Aadhaar–Mobile (JAM) trinity. Using secondary time-series data collected from the authentic sources like RBI and the National Payments Corporation of India. The analysis of the study is based on correlation, regression, ANOVA, and other statistical tools to see the effect of digital payments on the growth of GDP. The findings reveal an exponential rise in UPI transactions, indicating deep digital transformation of India’s payment ecosystem. However, empirical results show a weak and statistically insignificant short-term relationship between digital payment growth and GDP growth. Analysis of the study concludes that transactions made digitally contributes primarily through long-term structural effects such as enhanced efficiency, financial inclusion, and economic formalization rather than immediate GDP acceleration. Findings of the study provides an important finding for policymakers aiming to strengthen India’s digital economy.

digital payment, economic growth, efficiency, inclusion, acceleration

Dr. SHALINI SUMAN(2026); A Study of Digital Transaction and GDP Growth in Context of India: An Empirical Analysis, International Journal for Innovative Research in Multidisciplinary Field, ISSN(O): 2455-0620, Vol-12, Issue-2, Available on –   https://www.ijirmf.com/

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