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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)
Atul k
Atul k 11 years 1 month ago
A welcome decision. 100% agreed on paperless and cashless transactions. Please implement such rules which encourage people to do online and cashless transactions using netbanking or credit and debit cards based transactions. By giving small tax benefits will add huge amount of money in Indian economy.
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Shubham Kaushik_2
Shubham Kaushik_2 11 years 1 month ago
It is a fantastic proposal by GoI.It will help in curbing corruption as all e-transactions coming directly under the audit system.These proposals will also result in enhanced connectivity to remote areas of the countries via broadband,mobile towers,etc as these will be necessarily needed to facilitate e-transaction in remote areas.But for this we need a perfect cyber space security to effectively eliminate any threat to our economy.It is also to be made sure that our Rupay cards have max reach.
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srilikhitha
srilikhitha 11 years 1 month ago
people who spend their white money or hard earned money prefer spending by card even today because of various cash back and reward point offers provided by banks and credit card firms. if the main aim is to curb the black money you have disincentivize cash transactions. 1)charge extra premium for paying by cash. 2)upper bound on the amount that can be transacted by cash. 3)you have to submit PAN number you have to pay by cash for a transaction above some X amount.
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srilikhitha
srilikhitha 11 years 1 month ago
Kudos to the government for the innovative proposals.I can see that the draft addresses all the objectives mentioned except for one - reduce tax avoidances. All the policies mentioned in this draft are not discouraging the transactions in cash, they are merely giving incentives to spend by virtual money. Main obstacle for a person having black money is while disposing it or when converting it to white.
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PAWANJEET AHIR
PAWANJEET AHIR 11 years 1 month ago
#ElectronicTransactions Very nice thought!(till the time it didn't get cleared) Need of the hour.Stop black money at 1st place & bring the trash posted outside which still looks like a dream to many! Lets take this & other innovative steps to rebuild the India it was during ancient times. Congrates NAMO & team!
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Srikanth Ankireddy
Srikanth Ankireddy 11 years 1 month ago
Very good one and it is needed for the current situation. This is one of the many moves for transparent INDIA (black money free).
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Sathyanarayana Garimalla
Sathyanarayana Garimalla 11 years 1 month ago
This is good move by the Government. I do most of my transactions on line. The Airlines are charging flat fee for booking the tickets this must go. I have no idea why they are charging and automatically this is added to the fare. Government should include this also.
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HRISHIKESH DHONGADE
HRISHIKESH DHONGADE 11 years 1 month ago
Thank you for providing the opportunity to comment. Really it is wonderful move and the only limitation which I can see is the unavailability of swipe machine in remote areas.If we can fix certain cap on the annual fees charged by the CC provider, then everyone can hold the CC and the transactions would be more faster. Another move which we can put on pilot basis is the start NFC like transaction in metro cities.
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