The NDA government has set an ambitious target of 18 billion digital transactions for 2017-18 to further reduce the dependence of the country’s economy on liquid cash. It hopes another eight billion transactions will take place in the remaining five months, strengthening its push for a digital economy amid the Opposition’s criticism of demonetisation. A year after the controversial move, the Centre has zeroed in on five action points to boost digital transactions across the country in the near future. The IT ministry has also told the panel that digital payments will be made “visibly cheaper” than cash transactions. Also on the cards is a “syndicated campaign” with banks, departments and states for ensuring the growth of digital payments.

Source: Hindustan Times November 08, 2017 09:11 UTC