Growth of Communication Technology and Socio-Economic Impact

Society and economy are the links of the same chain. Society fosters economy and economy in turn, fosters society. Though the intensity of linkage between the two studs are undoubtedly firm, the alignment of the chain varies. The cascading effect of either an up gradation or a down gradation, is a trait of this bond.

The society has seamlessly attempted to align this system towards a progressive direction. For this, many instruments, indeed, have been tried out. Some targeting the economy, some on society, some on both and some on the other links.

One such instrument has been communication and information technology. Starting from the hick level of training pigeons for serving as messengers, to taming the lightening fast invisible magnetic waves, the society has been ever evolving with it.

Internet, mobile services and satellite services are all that surrounds us as we think of information technology today. Though these systems have been with us for more than three decades, the recent developments enabling their smooth interconnectivity and interface has published the USP of the technology.

The world economies today could have never been so much interconnected in the absence of this medium. Be it banking, agriculture, mining, service industry, manufacturing sectors, health sector or even scientific researches; information technology (IT) either has an in-office or out-office or applications in both of them.

Furthermore, it is easily understandable that neither of the sectors of an economy operates in vacuum. They do have to connect themselves with the people at large and the sectors besides them. Thus the role of IT seems imminent.

The ease of connectivity has offered and encouraged the people at large to carry out economic participations and transactions in a flick!

e_rail/air tickets, e_shopping, e_trading, DMAT accounts, e_banking, m_trading, video conferencing, real time market updates, e_entertainment etc; all involve economic transactions, and their ease of availability provokes their demands.

The satellite services offering point to point navigation enables economic, efficient, dependable transport of goods and people. The advanced weather prediction technologies are words of wisdom to the farmers.

Nevertheless, the impact on economy does replicate its occurrence on the social conditions owing to its forward and back linkages with it. It bears both, direct and indirect impact n the society.

Social networking sites and e_media serve as an immediate mentor of the social mood. A person being capable of being connected with each and every stone of his life journey certainly empowers him/her with a great social security.
The real time coverage of an event from a small hamlet to the happenings on the diametrically other side of the globe by e_media, has shrinked the globe to a “global village”; thus increasing the sense of belongingness and hence encouraging mass participation for any social cause.

Furthermore, the communication technology as a helping hand in escalating an inclusive economy has indeed upgraded the economic conditions of the masses; and an economically prosperous society is most likely to reflect a happy state of mind.

The IT, however, like other instruments of breeding prosperity does have its own malice.
Fake e_transactions, fraudulent cash transfers, privacy thefts, black marketing, cyber crimes, depleting social hierarchy, illicit pornographic and sexual marketing etc has certainly created a sense of insecurity among the society, thus a matter being continuously debated. But not to be forgotten, these mischievous acts could never be a drawback of the growth in IT, they just are the misuse of this benevolent tool.

Last but not the least, a society’s economic and social condition can only be wisely assessed if each and every character of it is precisely accounted for, thus the communication tool has to be an indispensable medium.

ENDS