Niti Aayog makes presentation before parliamentary panel on digitisation

Niti Aayog on Thursday made a presentation on 'proliferation of digital payment and how it is transforming India's economy' to a parliamentary panel looking into issues concerning demonetisation, sources said.

The Standing Committee on Finance, headed by senior Congress leader and former Union Minister M Veerappa Moily will meet again on July 27.

The panel, sources said, will seek views of outside experts to be decided by the committee's Chairman Moily at its next meeting.

They further said the panel is likely to finalise its report on the demonetisation by August end.

Niti Aayog's CEO Amitabh Kant along with senior officials from the government's think tank made presentation before the panel comprising members of the Lok Sabha and the Rajya Sabha.

Earlier this month, Moily had indicated that the panel would submit its report on demonetisation during the Monsoon Session of Parliament that started on July 17. The session is scheduled to conclude on August 11.

The Committee had already taken views of RBI Governor Urjit Patel and senior officials of the finance ministry on the government's decision to scrap old Rs 500/1000 notes from November 9 last year.

The move had lead to immediate shortage of currency in the system leading to long queues at banks and ATMs all over the country. However, the situation improved after the RBI pumped in new Rs 500 and also Rs 2,000 notes into the system.