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Relief for SMEs adopting digital payment mode: Prasad
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SME Times News Bureau | 19 Dec, 2016
Union Information Technology Minister Ravi Shankar Prasad on Saturday said that no inquiry on opening of their transactions pre-November 8 will be done if small enterprises (SMEs) and shopkeepers adopt digital payment mode.
Prasad said that this observation was made by Prime Minister Narendra Modi duing the MPs meet on Friday.
"If any enterprise or a shopkeeper comes on digital payment mode, then for small shopkeepers, middle shopkeepers no opening shall be done about transactions before November 8," said Prasad at the Ficci Annual General Meet.
"Second, in terms of labour employment, if by digital payment, the number of employees rises, then no inquiry should be made pre-November 8 in case of small shopkeepers or other concerns. So that past is past. What is important is to bring into digital mode in a bigger way.
"If your transaction is digital, your consumer base is known and if consumer base is known the lending banks would have enough material available about your commercial vialbility to expedite the loan system. Money coming in the system becomes avaialbale for banks to invest," he added.
Prasad further said that digital governance is equal to good governance, transparent governance, and honest governance.
"Another mode of digital payment we are pushing in a big way is Aadhar-based payment. About 30 crore Indians do not have a mobile phone, but they have access to mobile phones at home. How will they have the benefits? That's why we are encouraging Aadhar-based payment. We are planning it with the Finance Ministry," he said.
Prasad also gave a demo on Aadhar-based payments using biometrics and smartphone.
He also said Goods and Services Tax (GST) is going to technology-enabled.
"We have 6.3 crore enterprise in India. Through the digital move of the government, every informal firms will move into formal economy."
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CORRUPTION OF CONGRESS LEADERS
madhu | Mon Dec 19 14:06:09 2016
WHAT BJP GOVT IS DOING AGAINST RAHUL GANDHI WHO IS RESPONSIBLE FOR HUNDREDS OF GIGANTIC SCAMS WORTH TRILLIONS OF RUPEES? SUCH USELESS STATEMENT BY BJP LEADERS HAVE NO RELEVANCE UNLESS STERN ACTION IS TAKEN AGAINST ALL CORRUPT LEADERS OF COUNTRY INCLUDING RAHUL AND SONIA WHO MADE PEOPLE BEGGAR BY LOOTING ALL RESOURCES OF COUNTRY IN LAST 10 YEARS OF UPA REGIME.
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