1. Data Drive: Less currency for a cashless economy

Data Drive: Less currency for a cashless economy

The government is looking to move towards a cashless economy. A draft paper has proposed tax rebates for shopkeepers...

By: | Published: June 27, 2015 12:21 AM

The government is looking to move towards a cashless economy. A draft paper has proposed tax rebates for shopkeepers who do 50% of their total transactions electronically and tax benefits on credit/debit card transactions. It has also suggested removing transaction charges on the purchase of petrol, gas and railway tickets. Essentially, this move is a step towards bringing in a level of fiscal discipline and ensuring that there are fewer big-ticket cash transactions. That should help the government keep track of individual transaction history and ensure better tax compliance. But, are the people, banks and the government ready for this?

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  1. S
    SAMIR SRIVASTAVA
    Jun 27, 2015 at 8:35 am
    Government should stop printing of the currency bills. We should move to COMPLETE Cashless Economy. We need to move to COMPLETE cashless economy. It avoids terrorism, and other malpractices such as bribery. COMPLETE cashless economy provides end-to-end traceability. One can catch malpractice at source.Pl refer my blog at for detailed study (paper and slides) of Cashless Economy . It lists the reason for the people to vote for this change also which has not been brought earlier.
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