To move towards a cashless economy, the central government announced a committee under NITI Aayog chief executive Amitabh Kant to look into digital payments for all government-citizen transactions.
In an earlier presentation to the government, the Aayog had advocated the promoting of electronic payments in a big way. The route it suggested included direct integration of e-wallets like Paytm, etc, with the government-pushed Unified Payments Interface system. Also, increasing the wallet transaction limit from Rs 10,000 on presentation of additional Know Your Customer proofs, encouraging digital payments for all government services and a surcharge on cash handling beyond a limit.
The committee under Kant is to identify and operationalise user-friendly digital payment options in all sectors, it was announced, and as soon as possible. This is an integral part of the government's strategy to transform India into a cashless economy, it was added.
The Aayog said the committee would identify various digital payment systems appropriate to different sectors and coordinate the efforts. It will also identify infrastructural bottlenecks affecting the access and utility of digital payment options. Overseeing the implementation of measures to make such transactions between government and citizens cheaper than through cash is part of the panel's ambit.
Apart from Kant, the panel has the secretary, financial services;; secretary, electronics and information technology; secretary, department of industrial policy and promotion; secretary, investment and public asset management; secretary, rural development; managing director of the National Payments Corporation of India; chairman, National Highways Authority of India, and Adviser, NITI Aayog.