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Draft Proposals for Facilitating Electronic Transactions

Draft Proposals for Facilitating Electronic Transactions
Start Date :
Jun 16, 2015
Last Date :
Jun 29, 2015
17:00 PM IST (GMT +5.30 Hrs)
Submission Closed

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: ...

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement:
“One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians has or can have, a RUPAY debit card. I therefore, proposes to introduce soon several measure that will incentivize credit or debit card transactions and disincentivize cash transaction”.
Accordingly, draft proposals for facilitating electronic transactions (E-transactions) have been prepared. Comments and views are invited on the Draft Proposals.
Draft Proposals For Facilitating Electronic Transactions (The Proposals placed below are only at the draft stage and are being placed here to obtain public opinion. The proposals as they stand at this stage, do not imply any commitment from the government)
The last date to share your views is 29 June, 2015 by 5:00 p.m.

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Showing 1250 Submission(s)
ASHISH MS
ASHISH MS 11 years 3 weeks ago
EVEN THE ROAD FINES ARE IMPOSED ON THE VEHICLES NUMBER REGISTRATION NUMBER. THE REGISTRATION PLATE IS TO BE RENEWED EVERY TWO YEARS. FINE HAS TO BE PAID EITHER SUDDEN ONLINE TO THE GOVT ACCOUNT OR DURING THE RENEWAL PROCESS. NO FINES CAN BE COLLECTED IN CASH. GOOD LUCK SIR. YOU REALLY BOUGHT FORWARD A GREAT IDEA FOR THE COUNTRY.
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ASHISH MS
ASHISH MS 11 years 3 weeks ago
FOR COMMERCIAL TRANSACTIONS: ANY PAYMENT TO BE RECEIVED FROM ANY GOVERNMENT ORGANIZATION - A LETTER IS ISSUED TO MINISTRY OF FINANCE FROM THE RESPECTIVE ORGANIZATION AND THE COMPANY'S ACCOUNT IS CREDITED WITH THE SAME AMOUNT BY THE FINANCE MINISTRY. THIS REALLY HELPS IN MANIPULATION OF PAYMENTS. THIS MEASURE WILL BRING MORE CONTROL ON THE ON GOING BRIBES AND GOVERNMENT WORKS GOING ON THOUGHOUT THE COUNTRY. GOVT. WILL HAVE A CHECK ON EVERYTHING.
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ASHISH MS
ASHISH MS 11 years 3 weeks ago
YES, THIS IS A GREAT IDEA TO CURB INTERFERENCE IN GOVERNMENT MONEY. I AM LIVING IN OMAN AND THIS SAME PRINCIPLE IS FOLLOWED HERE. ALL THE PAYMENTS MADE TO GOVERNMENT ORGANIZATIONS DIRECTLY GOES TO THE MINISTRY OF FINANCE'S ACCOUNT. ALL PAYMENTS ARE MADE BY CREDIT OR DEBIT CARDS. THERE IS NO INTERFERENCE OF ANY EMPLOYEE IN THIS AMOUNT. THIS WAY GOVERNEMNT CAN BE SURE THAT IT IS RECEIVING ALL THE PAYMENTS IN FULL
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Raghavendra M_2
Raghavendra M_2 11 years 3 weeks ago
Good to have Standard billing format and billing tracking mechanism, since till now Government is in a position that it CANNOT ensure that all the taxes(ST/VAT/ET/etc..) collected from public exactly reaches TAX department.
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SK RASHID ALI
SK RASHID ALI 11 years 3 weeks ago
It's great idea. I loved it. There are times un-wantedly under certain circumstances, people pay bribe. This step will definitely erode such practices. I simply loved it.
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rahul dutt_1
rahul dutt_1 11 years 3 weeks ago
1 All the government translation should be made through bank to bank transfer for any purchased by government office 2 using card system is very good it should be implemented in real estate , bank to bank transfer should be made complecery so there will be proof of transfer of money and back money can be avoided 3 all small to big retel shopes should be encaraged in card use, so proper bill is generated.
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Nishant Roy
Nishant Roy 11 years 3 weeks ago
The draft proposal on electronic transaction is a great measure to curb black money, tax avoidance & reduce corruption.However,the following points must be considered to make India a cashless economy: Reduction of service tax,VAT,surcharge & luxury tax on non-cash transactions No charges on IMPS & other bank transfers. User controlled dynamic spend limits on Debit cards Alternative methods for 2 factor authentication Install NFC supported machines at POS Also,Rs.50000 as max cash purchase
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SUNIL OSTWAL
SUNIL OSTWAL 11 years 3 weeks ago
Before starting card transactions we request you to kindly make sure that all the dealers / sales shop or offices wherein daily cash transactions take place shall be equipped with POS / swiping machine for the convenient of Card Transactions with the acceptability of all the banking services such as VISA / AMEX / MASTERCARD / RUPAY etc. Further Banks has to reduce the reduce the Transaction Charges on swiping machine as that is one reason why many of them do not use them.
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