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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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Showing 1250 Submission(s)

Subramani Jagadeesan 11 years 1 month ago

Really good idea and please implement in up coming budget. One of the way to reduce the black money is please make validity only two years in all rupees. Every two years just introduce new rupees. Then only, if any one Try to store the money,then from third year it will useless for him. So easly all Indian money will come to rotation. And please make some restrictions for all Indian citizens that every one must have some limit of land property.Every Indian should not buy land property more than

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Anurag Kumar Shama 11 years 1 month ago

This is a very a good initiative taken by the government. It will definitely help to curb the problem of black money. More e-transaction giving the public relaxation in taxes is just a fabulous idea. People will comply more through this window. Less cash transactions will put check on black money.

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Kishor Srivastava 11 years 1 month ago

It is really a good initiative, electronic payment should be implemented in every possible sector. Government should also take care of various security threats electronic payments. More significantly awareness of this kind of facility is also required at the rural areas of India. Hope that it will be implemented soon at least in Traffic control department and Judiciary to pay our due payments or fine (if any).

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Siva Nageswara Rao Borra 11 years 1 month ago

Good idea. Also make tax discounts for investing in start-ups, as generation of employment should responsibility of local start-ups instead of foreign companies.

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Karthik_69 11 years 1 month ago

1) Annual charges that are charged on the debit and credit card from the banks should be waived off. That will enable more number of people to opt for different types of cards. 2) Areas like property tax etc is still not being digitised.

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Dr Mahendra Chawda 11 years 1 month ago

Good idea but pl remove all charges from cc & debit card for any transactions but reduce income tax first as it is the big hurdle in combating black money so pl have limit of 3 lac for no tax & 20 to 25% highest tax

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SACHIN B PADOLE 11 years 1 month ago

It's very good initiative to improve visibility of taxation system due to this taxpaying employees like me feel satisfaction that somewhat new government thinking about us. We can use this facility in shops which are preparing fraud bills for hiding their transactions. Again Thanks for Initiative...

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Anirban Bose 11 years 1 month ago

It is really a very good initiatives from the govt. e-payment system can reduce black money issues from India's financial system. First of all, every govt. sector should give instructions for accepting e-payment. Most of the black money issues can be observed in govt. sector transactions.

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Venkatasubramanian B 11 years 1 month ago

All fine collection by traffic police or courts should be made cashless to prevent bribery. Challan must be provided and public must pay in centralised portal for all states and courts. IT filing of various shops and water tax and road tax should be made online for all states. Govt must spend more on e governance to reduce cash transactions. Fixed deposit tax must be reduced to promote bank usage again. Increase FD interest rate. Donations must be mandatorily because NRI's use loops.

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Venkatasubramanian B 11 years 1 month ago

1. All hold or jewellery purchase compulsory card payment with pan card mandatory. Since banks don't have integrated system on overall transaction by a person above 50,000 and neither income tax nor rbi flag when a person makes purchases more than 50k from several sources to ask pan card. 2. Jewellery is major black money source correct it make card compulsory to see how much gold sale reduces saving cad and other benefits. 3. Gold irrespective of gram or value or atone make card compulsory.

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