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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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JAIKISHAN GOEL 11 years 3 weeks ago

PROOF SO THAT ONLY ONE IDENTITY PROOF IS THERE FOR ONE PERSON AND GOVERNMENT FOR OWN PURPOSE WILL HAVE SUB IDENTITY PROOF WHICH EVERY DEPARTMENT OF STATE OR CENTRAL WILL USE THAT PROOF. HENCE PERSON WILL BE IDENTIFIED AND NO PERSON LIVING IN ANY STATE WILL BE ABLE TO DO ANY MISSHAPING. FURTHER SINCE PERSON WILL BE IDENTIFIED EVERY PERSON WILL HAVE TO MENTION HIS NUMBER IN IS TRANSACTION AND ALL OTHER NUMBER WILL BE OF NO USE FOR PERSON FOR FINANCIAL TRANSACTION THOUGH IT WILL BE USED BY CENTER

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sreedhar patha 11 years 3 weeks ago

It is very good move... If everything is plastic.. The corruption and black money will fly off automatically... And one has total control over there money.. And even government has access to all transactions.. Which is fare..

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JAIKISHAN GOEL 11 years 3 weeks ago

IT IS ONLY POSSIBLE WHEN ALL STATE AND CENTRAL TOGETHER LINK IDENTIFICATION DOCUMENTS OF EACH AND EVERY PEOPLE WITH ONCE CENTRAL DATA REGISTRY WHOSE OWNERSHIP LIES WITH BOTH AND CENTER SO THAT THEY DO NOT QUARREL WITH EACH OTHER AND BOTH CENTER AND STATE USE SAME IDENTIFICATION DOCUMENTS. FOR EXAMPLE NAME OF IDENTIFICATION NUMBER FOR EACH PERSON IS KEPT AADMI AND THEN EACH PERSON WILL HAVE HIS AADMI NUMBER IN WHICH ALL IDENTITY PROOF WILL BE MERGED AND WILL BE SUB IDENTITY PROOF AND NOT IDENTITY

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ABHISHEK K BHASKARA 11 years 3 weeks ago

Hi! 1st step to curb Black money & corruption is to Curd Direct cash transactions. Govt Shud have its Own Payment Wallet to facilitate E Transactions. Wit JAN DHAN banks have issued A lot #RUPAY cards mostly to first time Bank customers. There shud prop & Effective education abt using Debit Cards For payments. Incentives shud b given for E-payments. Also the penetration of POS in TIER-2 & 3 cities very low. First gov shud encourage merchants to hav a POS. Transactions costs shud be rationalized.

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Sandeep Prabhakaran 11 years 3 weeks ago

The draft proposal on electronic transaction is a great measure to curb black money transactions, 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 IMPF & other bank transfers User controlled dynamic spend limits on Debit cards Alternative methods for 2 factor authentication Install NFC supported machines at POS

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ARUN KUMAR AGARWAL 11 years 3 weeks ago

All gov bills payment to the gov must be E payment. Greatest achievement is IRCTC is selling Indian railways E Reservation, which has became the largest e commerce website in South asia.

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KRISHNAN RAJU NAIR 11 years 3 weeks ago

bank should give out plastic card money, which can be swiped instead of paper money against call kinds of cash including foreign currency similar to metro card and tourist of other countries, their card should be accepted in India without any charges in INR. Money transfer from mobile to mobile to be made highly secure and be made as easy as making call, to enable payment to even a rickshaw puller or road side dhabha.

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Moolchand Jain 11 years 3 weeks ago

e transactions proposals

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RK SINGH 11 years 3 weeks ago

It is true that Electronic Transaction will work well in transparency and combat black money as well. But Encryption of foolproof Gateway need to be addressed first, which should be devised properly with the help of professionals in IT industries by outsourcing. Even NIC server also need alot of improvement which run various government sites. In USA plastic money is in use and every where they use technology that too believe in unmanned counters.

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Amitendra Kumar 11 years 3 weeks ago

1. Remove all kind of taxes in Card Payments such as Txn.fee etc. 2. Retailers charge 1-2% in smaller cities, ensuring that customer pays in cash. Ensure necessary steps to curb this practice, as they hide most of the cash transactions. 3. Scrutiny of income of retailers having PAN but not paying taxes showing low income, due to hiding cash transactions. Strict Punishment be proposed.This is where maximum evaders are, along with those at higher levels. This will increase tax inflow too.

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