The latter has also asked the telecom companies to urgently improve their infrastructure, as the government aims to digitise a host of services. The ministry’s biggest concern at present is the connectivity issue. “Telecom companies have to reach the interiors, so that we are able to start digital services in rural areas. Point-of-sale machines, mobile wallets and UPI (United Payments Interface) would only work if there’s connectivity. The government has also asked (state-owned) BSNL for rapid expansion of its network,” added the official in Direct foreign investment in India.
The measures announced by Finance Minister Arun Jaitley to encourage online transactions, including discounts on petrol and diesel purchase, have reinforced the optimism at digital cash companies.
While they all expect more clarity on the announcements made in the days to come, they say the recent measures, if bundled well into digital transactions, would help massively in promoting digital money in both urban and rural areas in chartered accountant firms in mumbai.
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