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Draft Proposals for Facilitating Electronic Transactions

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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Showing 1250 Submission(s)
Mukesh Kumar Singh
Mukesh Kumar Singh 10 years 10 months ago
1. Ban 500 and 1000 rs note. 2. All Government office/institution to accept fee/deposit by Credit/Debit card. 3. Make all RealState/Land Property record online. So people can do verification and report which seems suspicious. 4. Property data of anyone who has property > XX crores, government employee and public representative's Income tax report should be made public.
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Anil Katia
Anil Katia 10 years 10 months ago
Let us also take in to consideration that cost of a tranx to the banks is in the following order. Cash Cheque/DD Cards Electronic (other than cards). The incentives and disincentives need to be built in a manner that more & more people move from cash/ cheque/DDs to Electronic. So we should examine the pricing of mode of payments by the Banks and accordingly influence them to fall in line.Needless to say that economic agents will adjust and move to efficient modes over a period of time .
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Comments (1)
Anil Katia
Anil Katia 10 years 10 months ago
There is a huge cost that we are bearing for CASH (currency) in the economy. Clearly we need to influence the banking system to impose costs for handling of cash in relation to the costs which is not happening at this juncture. The only exception could be Financial Inclusion Accounts (bottom of pyramid) which may be exempted from the charges. Also , we need to incentivise the citizens by building Tax rebate depending upon the Tax Bracket by limiting the amount of cash withdrawl in a month .
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uttam kundnani
uttam kundnani 10 years 10 months ago
Good proposal a step towards implementation of use of banks for controlling Unaccounted transactions which will lead future into where gap between Rich and poor will narrow. I suggest to compulsory purch of Fuel with only e transactions so that each one using vehicle will be friendly to such transactions and each using vehicle spends handsome money for self. Sir also until you announce Tax rebate to individual not most of persons will use this. Tax rebate will be motivational factor.
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shiv shankar
shiv shankar 10 years 10 months ago
1/2 of suggestion 1) introduce mobile bill by sms or what whatsapp or by email i.e what ever you buy instead of paper bill (paper bill will be optional) customer will be given electronic bill by sms or email, all shpops will be provided with same internet based number for sending SMS or email, that way we can keep eye on transaction, this will save paper, ink so environment friendly step, we get lots of promotional sms from shop why not our bill? Shiv Shankar Manar Daudnagar Bihar
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Comments (1)
ajit kumar sahoo
ajit kumar sahoo 10 years 10 months ago
All appoint inSpectors visit shops randomly. An mobile app can be developed for centralised reporting through there smart Pho e with GPS enable. Acooutability can be implementaed .the smart phone of every individual can be used for this purpose as maximum people using smart phone now a days
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ajit kumar sahoo
ajit kumar sahoo 10 years 10 months ago
At provide hand held billing machines at every shop. 1 2. All shop whicj are not paying taxes taxes should be recongnised and this at village level to gram sabha.and percentage of collection to be given to gramsabha.but all has to be done electronically.
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Sandeep Pillai
Sandeep Pillai 10 years 10 months ago
1.Remove the surcharges levied for card payments. 2.make card swiping terminals available at every shop by either making it mandatory or by using incentives. 3.dont have any lower limit for the amount that can be swiped using a card 4.If possible govt should introduce incentives for people to use cards instead of paper currency
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Rajesh K Chaurasia
Rajesh K Chaurasia 10 years 10 months ago
Two sectors that require serious clean up are - real estate and jewellery. For real estate, registrar offices should be instructed to demand proof and source of funds for payment. I understand property registration is state subject, but co-ordination is needed to track those transactions.
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