After Prime Minister Narendra Modi declared “demonetisation” on November 8, the present Budget additionally expects to fortify the nation’s cashless economy. Finance Minister, Arun Jaitley made a countless number of announcements to push the digital economy of the country in his Union Budget 2017 speech.
Jaitley reported money back plans for vendors utilising the legislature supported BHIM Aadhar-based versatile wallet. There will be uncommon extra plans for the shoppers utilising it. He said that 12.7 million BHIM applications have as of now been downloaded.
To make nationals web inviting, all administration receipts will be produced on the web.
There will likewise be an AadharPay, which will be “helpful for individuals who don’t have charge and Visas, and net keeping money office,” Jaitley said.
The administration has assigned Rs 2,500 crore benefits for UPI-based instalments and other advanced digital payments.
Jaitley said that by March 2017, there will be 10 lakh purpose point-of-sale (POS) machines in the nation, and 20 lakh Aadhar-based POS.
To further support the cashless exchanges, Jaitley said that SIDBI will renegotiate dealers and organisations in view of exchange history. This will be focussed at country and semi-provincial India.
The administration will likewise work with different partners and the head administrator’s panel on digital payments to make new directions. “There will be a revision in the law, and a new payments administrative board will be constituted, supplanting the leaving one,” Jaitley said.
While exhibiting the Rail Budget, amid his discourse, Jaitely likewise included that “administration charges have been pulled back on reservations through IRCTC and e-tickets.” In the most recent one-year cashless reservations have gone up from 58% to 68%.
So what are your views regarding the union budget?