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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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saikishore konda 11 years 1 month ago

It will be really good if you implement this as soon as possible. This will eliminate black money and improve indian economy which is following in developed countries

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Devisht Agarwal 11 years 1 month ago

It should be implemented as quickly as possible. It will benefit the Indian Economy.

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Kishore Gaja 11 years 1 month ago

Let there be a single universal smart card covering all the details/transactions, like address, PAN, UID, IRCTC, ALL TAXES, FLIGHT TICKETS, BUS, MUNICIPALITY, RATION CARD, COOKING GAS, FOREIGN TRAVEL, passport, visa, ROAD TAX, Vehicle fuel, medical care, bank transactions, etc etc etc

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Vaidy 11 years 1 month ago

We also need to ensure that the eco system to make it achievable is present. Card issuance, infrastructure to complete the transactions. Security of the card holder etc. needs to be made available.

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Milind Jamble 11 years 1 month ago

Very Good Initiative. this must be implemented with immediate effect. This will help in cashless transaction and will put curb on cash dealings to an extent. My suggestion for Tax exemption limit as follows For tax bracket of 10% - Rs 1 Lac For tax bracket 10-20 - Rs 1.5 lac For tax bracket 20-30 - Rs 2.5 lac For tax bracket > 30% - Rs 3 lac Look forward to this positive initiative

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Abhijit Dasgupta 11 years 1 month ago

medical expense more than Rs.500/- should by electronic transaction (mandatory).

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Bibek Tarafder 11 years 1 month ago

I think it is very good proposal. But in this country there is a large number of people who can't use the debit card or ATM card facility. In deep villages we can find this type of people. Many old age people can't understand the electronic transaction processes. At first we need to ensure that every one of our country is capable to use the debit card then we can introduce the policy.

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KRISHNA DATTA MISHRA 11 years 1 month ago

I congratulation to Finance minister a good step for stop black money. Issue Ru-Pay DD/CC cards to all eligible citizens..Remove surcharge like ticket booking,petrol surcharge and all transaction and provide to gas booking through credit card....Electronic Transactions must be mandated to all Educational Institutions Govt And Private Banks should not charge for NEFT, RTGS at least upto 20,000 rupees...Govt sure First of all make the credit card reach to every one.banks criteria are very high

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KRISHNA DATTA MISHRA 11 years 1 month ago

Special thanks to FM for good step. Issue Ru-Pay DD/CC cards to all eligible citizens Remove surcharge like ticket booking,petrol surcharge and all transaction and provide to gas booking through credit card. Electronic Transactions must be mandated to all Educational Institutions Govt And Private Banks should not charge for NEFT, RTGS at least upto 20,000 rupees Govt sure First of all make the credit card reach to every one.banks criteria are very high but

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Sarveshwar Mehrotra 11 years 1 month ago

Hon'ble Mr. Prime Minister, it is necessary that separate Limits must be ensured for separate class of transactions and in order to curb hidden purchasing of some classes of goods and also in order to curb corruption and black money, it is necessary that each transaction be taken into the net of electronic transaction tracking, be it a TV or a Bungalow. Cash Transactions be allowed only to a permissible limits only. Higher denomination notes be extinguish and ET be allowed.

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