The Union Finance Minister Arun Jaitley recently released ‘less cash campaign’ road map of the Confederation of All India Traders (CAIT) which has launched a nationwide campaign for promotion of usage of digital payments across the country.
CAIT has decided to conduct an aggressive campaign for next 40 days and will observe August 15th as ‘Less Cash Day’ all over the Country, CAIT said in a press release. It will organise seminars, conferences, round table and workshops in different states emphasizing the need of adoption of electronic payments as mode of payment among trading community.
“Beside traders, we also intend to rope in farmers, transporters, SMEs, hawkers, consumers, self employed groups, women entrepreneur and other sections in its campaign,” CAIT said.
After releasing CAIT’s less cash campaign road map in Delhi, Jaitley said more usage of digital payments will bring more transparency and accountability and will lead to further growth in GDP and economy.
He had said, black money is a plague, which needs to be weeded out from the system, calling on people to avail the scheme of the government for voluntary disclosure.
“We are committed to pursue our vision for promotion of less cash system in trade and commerce, which will enable India to see double-digit growth, it is critical for its largest community of self-employed, small and medium business owners to adopt and use modern means of technology,” CAIT Secretary General Praveen Khandelwal said.
There are about 5.77 crore small businesses in the country and the promotion of less cash campaign will not only includes allowing consumers the convenience of paying through electronic means that is credit or debit cards and wallets, but also critical investments in promoting businesses online, he said.
However, he said, the government should make specified rules and regulation for e-commerce business in the country and must bring a policy to provide incentives like tax benefits to encouraging people to use electronic payments, CAIT National President B C Bhartia said.