Moreover, the concrete implementation of the National Common Mobility Card launched by the Prime Minister will strengthen digitization by enabling people to pay multiple transport charges across various mediums like bus travel, toll taxes, parking charges and retail shopping. This endorses the cash-in cash-out points proposed by the Nandan Nikelani committee and is a brilliant step in boosting the digital infrastructure in the country. Deploying this across the country will deeply amplify the digital economy agenda.
Lastly, the initiative of empowering women through various schemes such as MUDRA, Stand UP India and the Self Help Group (SHG) movement is a great step by the government. Every verified woman’s in self-help group having a Jan Dhan Bank Account will be allowed an overdraft of 5,000 rupees as an incentive to activate their debit card or account along with one woman in every SHG made eligible for a loan up to 1 lakh which will further inculcate a sense of financial independence through their various local modes of earning a living. This is an ingenious move to penetrate the rural markets and kick start the process of digitization, especially through the women who are very active participants in the economy in these areas creating a generational paradigm shift towards digital payments.
This budget will elevate the role of women and their entrepreneur spirit further encouraging them to participate in India’s growth story.