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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)
MANISH KUMAR YADAV_5
MANISH KUMAR YADAV_5 11 years 1 month ago
I always use my credit card to the extent possible for making payments and i feel it's a good proposal for giving income tax benefits to the credit card users to curb black money menace. I feel other electronic payment mode viz. NEFT, RTGS transactions can also be promoted in the same way for High amount transactions like purchase of vehicles, property etc. We have to eradicate this black money.
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Sumi Pal_1
Sumi Pal_1 11 years 1 month ago
A really good initiative if at all can be implemented. Many times we need to pay extra if we wish to make the payment through credit card. Also keeping credit card history will curb the misuse of credit cards.
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Pavan Kumar Gada
Pavan Kumar Gada 11 years 1 month ago
The transaction charges that a business/firm/merchant has to bear for accepting money using a debit or credit card ranges from 1.00% to 3.00% of the transaction amount. This is a major hurdle for many businesses/firms/merchants that run on low profit margins. These transaction charges need to be urgently reduced / rationalized to encourage such low profit margin businesses/firms/merchants to adopt electronic payments as a means of accepting money.
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Rajeev Kumar Sharma_3
Rajeev Kumar Sharma_3 11 years 1 month ago
I want to suggest linking of Aadhaar number with Debit card authenticated by OTP on mobile and PIN of Debit card(both). One can use it any purchase like petrol/diesel. Please remove surcharge and give some incentive. By this user and seller can be monitored, subsidy can be controlled. Same with LPG instead paying and getting subsidy back after some time, automatic deduction (with or with out subsidy) while booking LPG bottle. Same system for railway (IRCTC) ticket booking also other purchases
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sbhargavi ravi
sbhargavi ravi 11 years 1 month ago
Excellent idea Mr.Finance minister Can you also do something to curb Marriage wastages.Tonnes of food is wasted.It will be good to make all the parties to present Pan card while settling the bills.This is another haven of Domestic Blackmoney.
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Venkatasubramanian B
Venkatasubramanian B 11 years 1 month ago
Please split comments section into media, press, govt officials, ias aspirants, college or youth upto 26, general public for more better channelizing ideas. Currently all ideas are under one category and media does not comment on mygov articles only this article an exception considering the usefullness for all. This is not a idea for the article but in general for all mygov articles. Pls create app for mygov for iPhone and windows phone.
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M Srinivasan
M Srinivasan 11 years 1 month ago
My Fantasy wish: Whenever B2B or Merchant to Merchant or consumer to merchant transaction happens via cash, it has to pass through "some kind of machine" before the transaction is considered complete. The serial numbers of cash held by a person (via ATM OR in person transaction) should be linked to that person's global account, it should move out of his account, if the money passes through this machine only, where the receiver is clearly captured (ex. bank tx). Less cash usage = more tax rebate.
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Gaurav Gupta
Gaurav Gupta 11 years 1 month ago
Very Good Initiative. Please remove the requirement of declaration of IT authorities if you reach 2/5 lac annual transaction . All budding entrepreneurs and professional make at least Rs 12-15 lac transaction per annum and they are getting unnecessary penalized for using Credit Cards. They will be encouraged to use Credit Card More
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Venkatasubramanian B
Venkatasubramanian B 11 years 1 month ago
All metro and buses must be integrated to single card payment system and public can use the card to swipe in buses or suburban trains or metro or monorail. Instead of each govt giving one card for each all if integrated and channelised public are saved of getting tickets at each counter, waiting for change since tickets are and cannot be rounded off. The total usage and recharge an be made at stations or online or app. Will decrease cash usage for travel and save time and effort in many areas.
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