18th December, 2016 

CAIT SUGGEST PM TO DECLARE 2017 AS LESS CASH YEAR

                                                    

The Confederation of All India Traders (CAIT) has suggested the Prime Minister to declare Year 2017 as " Less Cash Year" in the Country having a prime focus on intensifying adoption of digital payments at all levels by the citizens of the Country. " In order to encourage people to embrace digital payment technology at both levels i.e B2C and B2B, the declaration of Less Cash Year will certainly prove to be a major announcement"-said CAIT which is strongly advocating the need of adoption of electronic payments since Year 2015 among trading community of the Country.

CAIT National President Mr. B.C.Bhartia and Secretary General Mr. Praveen Khandelwal informed that the CAIT has planned an aggressive 60 days national campaign for promoting traders to adopt digital payments. The campaign will be launched from 1st week of January to last week of February. During the campaign the CAIT will hold Digital Payment Conferences in States which will be attended by leaders of prominent Trade Associations of respective States followed by Digital Payment Camps in markets across the Country for on spot acceptance of digital payments available options.It has also planned a outdoor publicity campaign in association with local trade associations all over the Country taking forward message of faster adoption of digital payments.

Shops & Business establishments are focal point for footfall of large number of people everyday and as such the CAIT will also launch a poster campaign by putting Posters inside the Shops & Business Establishments advocating adoption of electronic payments.Digital campaign of Short Video, Whatsapp Clips will also be conducted for forwarding message of adoption of digital payments down the line across Country through social media. It has also planned various other innovative methods like Less Cash March, Street Plays etc. will be held in markets across the Country, depicting digital payments as an important instrument for conducting business in future.  Seminars, Workshops, Training Camps  will also be held across the Country to educate & aware the traders and others about digital payment solutions.

Both Mr. Bhartia & Mr. Khandelwal said that in the wake of GST taxation system every trader needs to adopt digital payments since under GST, the tax payment is proposed to be made only through Credit Card or Debit Card, NIFT or RTGS. No cash or cheque is allowed for tax payments. On the other hand various State Governments are contemplating to receive government revenue from other sources only through digital payments. Therefore, it will be advantageous for the traders to adopt digital payments at this point of time to enable them to comply with the provisions of GST and that of several other revenues which needs to be deposited with the Government.