A push too hard


Digital payment mandates should be avoided

Budget 2019-20 continued the government’s push towards digitising the Indian economy, particularly digital payments. To further corral the remaining cash-based sections of the economy, Finance Minister Nirmala Sitharaman said withdrawals from a particular bank account totalling more than Rs 1 crore in a year would require tax to be deducted at source.

There can be few objections to this notion — certainly, it is far less draconian than other measures that were being proposed at the time of demonetisation. However, other aspects of the Budget’s policy outline for …

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First Published: Mon, July 08 2019. 22:30 IST

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