Editorial

India’s Tryst With Cashless Economy?

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Dr Ravi Gupta
Editor-in-Chief

With the Prime Minister Narendra Modi-led government trying to attain digitalisation goals of government payments, the finance ministry recently made it mandatory for government departments to make electronic payment to suppliers and contractors if the order value exceeds Rs 5,000.

The move is likely to influence a sea-change in the way transactions are done in various parts of the country from tehsils to blocks to every district or city-level in rural parts of India affecting the local system of administration in the country.

Also, the recent move to demonetise Rs. 500 and Rs.1,000 notes by government came as just a glimpse of the transition India is going through to ensure that the country doesn’t lag behind any country in curbing black money or any other malpractices.

It has also showcased to every ordinary citizen in which direction the Modi government is taking rural Bharat and urban India while thwarting possibilities of international threat to sabotage the Indian financial system or prevent terror threats. All this motivated us to

All this motivated us to revolve our cover story “Demonetisation for cashless economy, India’s tryst with destiny?” around the idea as how IT industry is helping the demonetisation drive in India. It must be mentioned that the government’s move and the subsequent cash crunch has prompted almost every household to embrace digital payments, especially the e-wallets.

Our story covers the pros and cons of demonetisation, how IT initiatives have pushed the country in becoming a ‘cashless’ economy.

Our recent 2nd Elets eJharkhand 2016 conference in Ranchi held in October witnessed vibrant sessions on key topics of making the State an IT investment hub, role of PSUs, Smart Cities, etc. It was a major success and once again created ripples in the administrative and education world.

With the presence of policy makers, industry leaders, and top-notch delegates, the various segments of discussion turned the most awaited event highly thoughtprovoking, educative and a major event of exchanging ideas and networking.

Hoping the New Year 2017 will be successful and joyous, we look forward to your invaluable feedback

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