The Union Government has shifted the responsibility to promote digital transactions in the country to the Union Ministry of IT and Electronics (MEITY) from NITI (National Institution for Transforming India) Aayog. In this regard, Government already has changed the business transaction rules to enable MEITY to promote digital transactions, including digital payments.
This decision was taken in view of the core competence of MEITY to promote digital means for various transactions. NITI Aayog which is a think-tank is more focused on monitoring and suggesting ways to improve various government schemes rather than getting involved with implementation. MEITY is responsible for promotion of e-governance schemes for empowering citizens as well as promoting inclusive and also sustainable growth of electronics and IT sector and IT-enabled services industries.
Earlier, the Central Government had set up a committee under the chairmanship of NITI Aayog CEO Amitabh Kant to push adoption of e-transactions amid the cash crunch faced by citizens due demonetisation. NITI Aayog also implemented two programmes Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana to promote e-payments. Transfer of the business to Ministry will help Government to effectively promote digital transactions to achieve its target of reducing cash to GDP ratio to around 8%, which is at present hovering over 13% in the country.