'Waiving off MDR charges push in the right direction'

Bhavin Turakhia, Co-founder & CEO, Zeta.

The Budget 2019 has witnessed giant leaps towards building a cashless economy. One of the biggest steps is developing the country’s first payment system (One Nation-One Card) for transport which will be a holistic card for citizens for digital payments across travel, shopping etc. The decision of not charging customers for digital payments and waiving off the MDR charges is also a push in the right direction to encourage every citizen to carry out digital transactions and make India a less cash economy.

Additionally, the Government of India has made a much-needed move for working professionals by bringing in ease and convenience by proposing to make PAN and Aadhaar interchangeable along with making them available with pre-filled tax returns which aims to reduce the time taken to file a tax return as well as enable accurate reporting of income and taxes. The digital push also reflects in the tax filing process as with the launch of a scheme of faceless assessment in electronic mode involving no human interface. The government has introduced several measure that are in line with the ‘Digital India’ vision and we welcome the same.

The author is the Co-founder & CEO of Zeta.