Waste money and tax reform, India's Moody's government to implement the two major reforms. In opposition, the Moody's government struggled to keep the reform in the end. In the Indian people are accustomed to the use of banknotes, holding the case of holding money, the implementation of waste bill reform difficult to imagine.
The Moody's government's implementation of the waste money reform "has a selfishness", starting from the government's own interests by Mobile Payment Market, that is, to solve the government tax revenue, underground black economic transactions to evade taxes and serious black money bribery corruption. Modi government is clearly that the reason is that a large number of popular paper money, banknote cash transactions flooding, it is difficult to recourse traces of crime.
It is one of the effective ways to solve the underground black gold trading and various corrupt practices by carrying out the electronic money and the future digital currency based on the block chain technology. Developed countries such as the United States have proved this point. The Moody government seized the key. We note that, at the time of the Moody's government, the tax reform measures introduced a single national sales tax (GST) to replace cumbersome and chaotic state taxes and to relax cross-border trade. The authorities hope that this will force millions of businessmen to pay taxes to combat the long-standing underground economy, increase government revenue and promote economic growth.
Waste money is only the first step, more importantly, there is a radical alternative to the cash flow of cash talks. Naturally find the electronic money. From the Moody's government "waste money" and the tax reform of the two big move, India's electronic payment is clearly the opposite side of the station.
Public support and high degree of support is the development of India's electronic payment market, the best basic environment. India, an authoritative survey found that 86% of Indian people expressed willingness to use mobile payments in the coming year, far more than the global average of 57%. Such a high proportion of public support, India's rapid development of electronic payment market has become a matter of course.
India's electronic payment market development potential than any country are big. India's population world's second child since do not have to say, and India's electronic payment, including mobile payment market development is slow, accounting for a very low, but that its development potential. List a few sets of data at a glance. India is currently the number of non-cash transactions per year 11 times, while Singapore has 728 times; from the payment of electronic barcode payment to the terminal, ATM, toll station number, India, only 1,100 per million people, and in China, every 100 There are 16,000 people in Singapore, there are more than 31,000.
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