As suggestion, Confederation of All India Traders [CAIT] spoke out to the Prime Minister to declare the coming year as less cash year all across India. The major focus shall be on intensifying the adaptation of the modes of digital payment across all levels by the citizens of the nation.
The Confederation states,
In order to pursue and encourage citizens of our nation to embrace digital means of payment technology at both the Business to Business and Business to Customer levels, the declaration of a less cash term year shall certainly prove to be primary announcement.
The Confederation has been rigorously advocating the urgency to adopt electronic means of payments among the nation’s trading community since the year 2005. Presently, Praveen Khandelwal, Secretary General at CAIT, and BC Bhartia, National President at CAIT, communicated their plans for a nationwide campaign for duration of 2 months to impress upon the traders the need to adapt electronic or digital payment. As per their notice, the campaign shall commence during the first week of January next year and last till the offing of February. The campaign as notified will be attended by the many leaders of the respective trade associations of all the states. During the campaign, CAIT plans to hold conferences on digital payment in those states as well. The primary agenda of the campaign will be the governance of camps in the markets across the country for on-the-spot acceptance of the available options on digital payment. It shall mark a high level of efficiency in functionality and operation.
In association with the local associations all across India, CAT has made plans for an outdoor publicity campaign as well. This shall be of paramount significance to take the message of adopting digital payments forward faster.
Businesses establishments and shops are the focal points for the footfalls of a huge number of people daily. CAIT also plans to launch a poster campaign through putting posters on the insides of the business establishments and shops advocating the needs and benefits of adopting electronic payments at present.
A digital campaign is to set off too. It shall comprise of a short video and clips on Whatsapp. The significance of the social media is undeniable and it is of crucial importance to drive the message through those portals as well.
Moving on a much more aggressive scale, CAIT has taken other innovative methods such as street play, Less Cash March, and so on, under its plans as well. These shall be held within the markets across the nation, depicting the importance of digital payments as an instrument for conducting commerce in future.
Naturally, workshops, training camps, and seminars will take place too to spread awareness and educate the traders and others about digital payment solutions.
Khandelwal and Bhartia said that in the wake of the GST system, every trader is required to adopt digital payment modes as under the GST the tax payments has been proposed to be made singularly through debit or credit card, real-time gross settlement, or National Electronic Fund Transfer. Any other means of tax payments won’t be allowed.
Several state governments are contemplating the arrival of government revenue from the other sources only by the means of digital payments. Thus, it shall be beneficial for the traders of India to adopt digital payments in today’s time as a means to enable them to comply with the stated provisions of GST and those of the several other revenue that require to be deposited with the Indian government.
[Image Source: CAIT]