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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)
Abhinav Jain
Abhinav Jain 11 years 1 month ago
Good proposal as it will bring in more control over the cash flow and reduce the number of uncounted cash transactions and reduce the Black money flow. But would like to know how the benefits will be passed to the end user, i.e. person who swipes the card. For fuel and rail ticket booking is understandable what about user benefits from grocery purchase via card. Will this include net banking transactions also???
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Mahendra Kumar_12
Mahendra Kumar_12 11 years 1 month ago
1. ALL PURCHASING SHOULD BE CREDIT,DEBIT CARD OR ONLINE TO STOP CASH FLOW/TRNSACTION OR TO STOP BLACK MONEY OF AMOUNTING RS. 5000/- AND ABOVE. 2. KEEPING CASH MORE THAN RS. 5000/- SHOULD BE CRIME AS A BLACK MONEY HOLDING.
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Sushant Gadge
Sushant Gadge 11 years 1 month ago
A good move,The proposals are excellent. Also consider the possibility of Stop high value currency notes ie 500 and 1000 Rs notes. Also Cash payments only upto 10% of the Non-salary Non-Capex expenses should be admissible for ITR.
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Abhijeet Kulkarni
Abhijeet Kulkarni 11 years 1 month ago
The proposals are excellent. Also consider the possibility of pre-paid cards with touch interface and limited credit value. They would not only simplify but also speed up the transactions. An example is cards used at Delhi Metro. Also, in case of loss of such card, potential loss would be limited. Lastly, in order to make them secure, for transactions above a threshold amount, AADHAR authentication can be added.
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Pratik Bansal
Pratik Bansal 11 years 1 month ago
I welcome govt move & suggest following. . Stop high value currency notes ie 500 and 1000 Rs notes, otherwise this idea will provide benefit to people but govt will not earn anything on the contrary they may lose revenue, people trasecting in cash will have fear of robbary with huge cvolumn. . All e payment should be free from charges & payment accepted through this should have tax relief to encourage owner to have this facility.
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