The committee is headed by Amitabh Kant, the CEO of NITI Aayog, the government’s policy think tank.
“The committee will identify and operationalise in the earliest possible time frame user-friendly digital payment options in all sectors of the economy. This is an integral part of the government’s strategy to transform India into a cashless economy,” a statement from NITI Aayog said.
“The committee will also identify infrastructural bottlenecks affecting the access and utility of digital payment options.”
The government is hopeful that its recent move to derecognise old Rs 500 and Rs 1,000 notes will speed up the process.
The other members of the committee include the secretary of the department of financial services, secretary DIPP and secretary DIPAM, secretaries of the IT and rural development ministries; managing director of the National Payments Corporation of India and the chairman of National Highways Authority of India.
According to the statement, the committee will engage regularly with central ministries, regulators, state governments, district administration, local bodies, trade and industry associations, etc., to promote rapid adoption of digital payment systems and help achieve expeditious movement into the cashless, digital payments economy across all states and sectors.
The attempt is to establish and monitor an implementation framework with strict timelines to ensure that nearly 80% of the transaction in India moves to the digital-only platform.
The committee will also attempt to estimate costs involved in various digital payments options and oversee implementation of measures to make such transaction between government and citizens cheaper than cash transaction.
The committee will also implement an action plan on advocacy, awareness and handholding efforts among public, micro enterprises and other stakeholders.
That apart, it will organise training and capacity building of various states/UTs, ministries/departments of the government, representatives of states/UTs, trade and industry bodies as well as other stakeholders.
Source: Times of India