In a press conference with NITI Aayog vice chairman Arvind Panagariya, Andra Pradesh Chief Minister, Chandrababu Naidu briefed media and said the digital economy is proceeding on a positive note and holds many positives for India – he said this during an event where NITI Aayog presented best practices being used by various countries in this segment.
In the wake of promoting digitisation, the CM said there are 4 ways of dealing with issues in future – AEPS or Aadhaar Pay, mobile phones, swiping & bank transactions. He also stated that as of today only four banks have a mechanism of Aadhaar card based payment, so the government will request all the banks to start Aadhaar card based payments. Facilitating AEPS or Aadhaar Pay, CM said that only merchants need to have a smartphone and the government needs to just add the biometric system. AP CM Chandrababu Naidu after meeting with NITI Aayog, also said that there will be new version of USSD (Unstructured Supplementary Service Data)
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On the other hand, complimenting the demonetisation process, Panagariya said it is the government’s wish to promote digital transactions and reach the goal of a less cash economy so as to move from the informal to a greater formalisation of the economic system.
Besides Niti Aayog and Finance Ministry officials, the session was attended by economists and experts, including Pravin Krishna, Sukhpal Singh, Vijay Paul Sharma, Neelkanth Mishra, Surjit Bhalla, Pulak Ghosh, Govinda Rao, Madhav Chavan, N.K. Singh, Vivek Dehejia, Pramath Sinha, Sumit Bose and T.N. Ninan.