Union Budget 2019-20
Finance Minister Nirmala Sitharaman on Friday presented her first budget.
This is what she said about Digital Sector in India
- Digital payments are gaining greater acceptance
(more to follow)
Also Read | Live Updates on Budget 2019-20
In India, over 3,134 crore digital transactions were done during 2018-2019, according to Digital India’s official Twitter handle. From RuPay alone, about Rs 1 lakh crore worth transactions were completed during the same period while the same stood at Rs 8.8 lakh crore via BHIM UPI.
Massive results have also been recorded from BHIM, IMPS, NACH, NFS, CTS, Bharat Billpay and NETC among others.
The government was also expected to bring in some changes to promote its policy of digital India wherein, they might put some levy on cash withdrawals so that people rely more on digital transactions.
On the other hand, to incentivise digital transactions among small traders, the government can bring in some benefits for small traders by reducing the presumptive tax rate in case of digital transactions.
