Published on 20/03/2017 10:29:58 AM | Source: Dion Global Solutions Ltd.

80% informal economy will be transformed through digitization: Minister

Posted in Economy News | #Economy #Government #Jagat Prakash Nadda

The Indian Government has said that more than 80 per cent of informal economic activities, especially in retail, will be brought into formal economy through digitalisation and cash-less transactions. Commenting on the issue, Union minister JP Nadda told the media, “It will increase the number of tax payers with availability of adequate funds for development.”

“27 crore savings bank accounts were opened under Jan Dhan Yojana with a deposit of Rs 63,800 crore and that this amount could be used for development,” he added. The Indian Government has also said that according to Himachal Pradesh health minister Vidya Stokes, the state was promoting computerisation.