India Today

Killing the Golden Goose

Ignoring the views of the RBI and expert panels, the Budget featured a startling plan to make digital payments 'free'.

It's a startling plan. One that defies logic, even to those well-versed with policymaking in modern, nationalist, digital India. In Finance Minister Nirmala Sitharaman's maiden Budget, she announced that, to promote a less-cash economy, all charges would be waived for 'certain debit cards' and other digital payments. The merchant discount rate (MDR) would become zero.

The MDR is what a merchant pays for accepting a card

Вы читаете отрывок, зарегистрируйтесь, чтобы читать полное издание.

Другое от: India Today

India Today1 мин. чтения
Corridor of Light | Photo Essay
Evening Luminescence The 4.5 km-long corridor connecting Gurdwara Darbar Sahib at Kartarpur, known to be Guru Nanak's abode for the last 18 years of his life, near the Pakistan border town of Narowal, to Dera Baba Nanak on the Indian side, was recent
India Today7 мин. чтения
Ayodhya: Why We Should Move On
On November 9, we reached a tide in the affairs of our nation that, to paraphrase Shakespeare, if taken at the flood, could lead us to peace and prosperity but omitted, could continue to bind us in the shallows of our past miseries. On that day, with
India Today3 мин. чтения
The Long Winter | Economy
The government's worst fears about the economy may be coming true. Various indicators point to India's GDP growth rate for the second quarter of FY20 (July to September) falling below 5 per cent. If the spate of recent measures announced by finance m