Cashless Economy: Latest Current Affairs and News.
Cashless Economy UPSC IAS EXAM IAS NET, February 7, 2017 February 7, 2017, Important Topics and Issues, Study Material, Important Topics and Issues, 0 Cashless Economy.Essay 2 (300 words) Cashless India is a recently introduced phenomenon targeted to bring a sea change in the country’s economy by the Indian government, transforming the cash-based economy into cashless through digital means. However, still, there are various challenges to be addressed if we want to make India cashless in true sense. India is.Advantages and Disadvantages of Demonetization policy by SHREYA ANURAKTI. Prime Minister has made a Demonetization in India to eliminate Black Money. Due to Demonetization Indian Country has Faced Impacts due to Money. Due to Demonetization the Country has become a Cashless Economy.
Cashless Economy has been in news frequently since Government has taken number of initiatives in last few years to promote cashless transaction. This makes it a probable topic for mains 2017. Introduction. India continues to be driven by the use of cash; less than 5% of all payments happen electronically however the finance minister, in 2016.India’s transition to a cashless economy needs more focus on behavioral change (as observed during demonetization). The government is moving in the right direction as supply of digital infrastructure will eventually create demand for digitalization. This can have a multiplier effect on the economy. Sweden and China are leading in digitization.
A cashless or a digital economy will require all the residents to have a bank account. This will lead to higher financial inclusion rates and will also help build a bridge between Bharat and India. Also, since digital transactions can be easily tracked, the incidences of tax evasion will reduce drastically and in the long term will help the.
