Go I recently changed their gear and start promoting cashless transaction. Finance Minister came out strongly in favor of cashless transaction and offered many freebies to multiple type of transactions. In a situation of cash crunch ,many small vendors to taxi to life Insurer went into cashless mode. Now a days, we hear common statement from most of the vendor that plead do "Paytm".
The move help vendor to get the payment to get reflected in their bank account which will increase their credits. On a contrary , Government will reduce the cash transaction mode which used to prevail in the market place. Earlier government of India tax department were not able to track small amount transaction based business but now they can easily calculate vendors earning. It will help government to bring many more millions of vendors to citizen into tax net.
Ultimately it will reduce black money which gets accumulated in the system. Ironically, most of the opposition parties in India wasted no time in criticizing government by claiming that around 450 million citizen don't have facilities to go for cashless transaction but at the same time they forget that government is facilitating around 800 million citizen to go cashless. Even more surprising that even after knowing the positive impact of cashless they are not giving the positive picture to their supporter. Readers who believe that the given logic in the article is well justified then please share it with your friends and family to develop more awareness.
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