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Reverse cash inclination

Cash-dominated segments don't want to migrate to a digital platform due to lack of proper infra

Business Standard 

With reference to the editorial, “is back” (July 5), despite the deficient remonetisation, dependence on dealings is on the rise. Cash-dominated segments do not want to migrate to a digital platform due to lack of proper infrastructure and continued incompetence of a major chunk of the population. Convenience and ease of dealing in are motivating people to use currency notes.

This inclination towards transactions needs to be reversed. The government has to set up a developed digital infrastructure along with extensively increasing digital literacy of people. The cost of internet connection and accessories such as computers are discouraging people. People who cannot bear these costs should get financial support.

Government departments and local self-government offices accepting fees and taxes in need to migrate to the digital mode and persuade payers to do so.

The rural economy is cash-intensive and transactions relating to rural commerce and agriculture are made in by small business owners and farmers. The ability and willingness of these people to shift to the digital platform has to be enhanced through awareness programmes.

For greater transparency in transactions and to prevent tax evasion, the government must execute radical measures.

                              V S K Pillai   Changanacherry
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First Published: Wed, July 05 2017. 22:37 IST
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