CAIT campaign for cashless economy

NAGPUR: Planning to observe August 15 as 'less cash day', Confederation of All India Traders (CAIT), an association of unorganised businessmen, will be holding a 40-day campaign to promote electronic payments, said a press release issued by the organisation.
CAIT will organise seminars and similar events across the country, emphasizing on the need to adopt electronic payments by traders.The copies of CAIT's 'less cash' road map will be submitted to union ministers, chief ministers and finance ministers of all states apart from senior government officials and leaders of all political parties. CAIT will also use social media to spread the message. Beside traders, CAIT also intends to rope in farmers, transporters, small and medium enterprises, hawkers, consumers, self-employed groups, women entrepreneur and other sections of the society in this campaign, said the press release.
While releasing the road map Jaitley stressed on the need of finishing the parallel economy saying that use of digital payments will bring transparency and accountablity in the system. This will in turn lead to further growth of economy by pulling up the gross domestic product (GDP). He complimented CAIT for conducting such a campaign as it will support the government in encouraging electronic payment.
Even in proposed goods and services tax (GST) draft bill, it is provided that all taxes will be paid through either debit/credit card or through NEFT or RTGS. So, adopting cashless payments will also help in smoother transition to GST, said the press release.