Telangana News

In an attempt to boost the digital transactions and discourage the cash transactions, the Centre is reportedly planning to levy “cash tax” on all the cash transactions. This proposal is expected to find a place in 2017-18 budget.

According to the reports, the government is currently evaluating the proposal. The decision would be made final, at the “highest political level”.  

The Reserve Bank of India data shows 43% growth in digital transactions in December, when compared to November, last year. Needless to say, the effect is due to the demonetization.

Most of the non-educated people in the country, would only resort to cash transactions. So at this point of time, bringing a new rule like this, is surely going to impact their lives big time. It might also reciprocate on the government in the next elections. So, it would be better, if the government rethinks about the decision and plan accordingly.