Import of PoS machines temporary: PP Chaudhary -Governance Now

Import of PoS machines temporary: PP Chaudhary

Recent successful example of implementing demonetisation in a month coupled with focus on less cash economy and digital payments has given tremendous push to online digital transactions.

Pratap Vikram Singh | March 1, 2017 | New Delhi

#point of sale #digital payments #PP Chaudhary #Made in India #Make in India #Governance Now

PP Chaudhary

Union minister of state for electronics and IT PP Chaudhary has assured the electronic manufacturers that the import of PoS machines following demonetisation is temporary and would be sorted out soon.

“The imbalance is there. Once you take such a historic decision and the entire country goes for digital payments then you need a lot of (Point of Sale) machines,” Chaudhary said at Digital Transformation Summit 2017 organised by Governance Now.

The minister’s assurance came in response to a query on waiving duty on PoS machines, adversely impacting the Make in India programme and domestic manufacturers.

“In some cases machines are being imported. We have to strike a balance so that Make in India and digital payments should run smoothly,” the minister said.

“It is a temporary phase. In coming days only Make in India and Made in India will be promoted,” he said.

He underlined the importance of government’s ambitious Digital India programme, especially in the wake of fourth industrial revolution.

“The first industrial revolution used water and steam power. The second used electric power to create mass production. Third industrial revolution used electronics and IT to automate production, starting in middle of the last century.

“In fourth industrial revolution the boundaries are blurring between physical, digital and biological boundaries,” he said.

The revolution is powered by billions of smart phones, with unprecedented processing power, storage capacity and access to knowledge.

The emerging technologies including artificial intelligence, IoT, 3D printing and quantum computing offer numerous possibilities and Digital India is a step in tapping these transformational technologies, he said.

“The recent successful example of implementing demonetisation in a month coupled with focus on less cash economy and digital payments has given tremendous push to online digital transactions and multi digit growth has been reported across various digital payment platforms,” the minister said.

The Digital Saksharta Abhiyan, he said, has been underway to educate in IT 50 lakh people across the country. “A new scheme to cover 6 crore households in rural areas in next three years is also in the offing to make people aware of the digital payments,” he said.

Comments

Other News

RTI exposes Rs 16,909 crore cost blowout on Mumbai-Goa Highway

Seventeen years after the centre first approved the widening of National Highway 66 between Mumbai and Goa into a four-lane highway, a fresh RTI reply has revealed a sharp escalation in the project`s sanctioned cost. According to the RTI reply obtained by activist Jeetendra

"India`s semiconductor ecosystem is expanding rapidly"

Prime minister Narendra Modi on Thursday inaugurated SEMICON India 2026 in New Delhi. Addressing the occasion and highlighting the significance of the event`s fifth edition, the PM drew a parallel between the launch of Semicon India and Vishwakarma Diwas. He pointed out the beautiful coincidence of

Cabinet approves raising EPFO wage ceiling from Rs.15,000 p.m. to Rs.25,000

The union cabinet, chaired by the prime minister, has approved the proposal of the Ministry of Labour & Employment to enhance the wage ceiling for mandatory coverage under the Employees’ Provident Fund Organisation (EPFO) from Rs.15,000 to Rs.25,000 per month. The decision is expected to bring

UPI continues to remain free for peer-to-peer transactions: Finance Ministry

The new UPI framework introduced has no impact on any person to person transactions, and UPI will continue to remain completely free for all person-to-person transactions, irrespective of the amount transferred, the finance ministry clarified on Tuesday. Payments to merchan

SEMICON India 2026 and the making of a chip powerhouse

On Thursday, prime minister Narendra Modi will inaugurate SEMICON India 2026 at Yashobhoomi in Dwarka, New Delhi. Global chipmakers, policymakers and investors will fill the halls, all watching an industry India has built from the ground up. For three days, the country`s semi-con (semiconductor) manufact

Lokayan 26: Indian naval ship sets sail from Livorno, Italy

The Indian Navy’s sail training ship, INS Sudarshini, set sail from Livorno, Italy, on Saturday on completion of a successful port call. During her stay, the ship participated in a series of professional interactions and cross-training visits, strengthening bonds of friendship and maritime partners