Starting with demonetisation, prime focus on corruption has now moved to issue of digitising India

Abstract

On April 14, the Prime Minister extolled the citizens of benefits of Digi money and urged the use of Digi Dhan as part of clean-up India campaign against the menace of corruption while emphasising the need for extensive use of BHIM app. Earlier, in December last year, while introducing BHIM, the PM had also emphasised the virtues of cashless economy. And earlier still, one of the two objectives of demonetisation of specified bank notes was also stated to be corruption. The relentless fight against corruption was also reflected in the Union Budget through restrictions on funding of political parties and on cash transactions.

While it is apparent that the government is making concerted efforts, to eradicate corruption by targeting the stock of unaccounted money, there are numerous anecdotes that show that flow of unaccounted money has not been stalled, and hence relentless raids continue to be conducted across the country. Indeed, the menace of corruption is hard to address, especially the flow or fresh creation of unaccounted money. And that is where, the PMs exhorting to adopt Digi-Dhan and BHIM app are appropriately contextualised. The implementation of GST, with a trail of transactions would also help in identifying creation of unaccounted money. Read more at: https://www.financialexpress.com/opinion/starting-with-demonetisation-prime-focus-on-corruption-has-now-moved-to-issue-of-digitising-india/643988/