Union Budget 2022: Finance Minister Nirmala Sitharaman today not only presented the paperless digital budget, but also announced several big steps to promote Digital India. A big announcement has been made in the Budget 2022 regarding digital banking.
Finance Minister Nirmala Sitharaman said on Tuesday that scheduled commercial banks will set up 75 digital banks in 75 districts of the country to promote digital payments. It has also been announced to set up 75 digital banking units in 75 districts. Presenting the Union Budget 2022-23, the Finance Minister also said that chip based e-passports will be issued. He said that a high level committee would be constituted for urban planning and next phases of ease of doing business and ease of living would also be started.
digital currency announcement
The Finance Minister took a big step regarding digital currency. He said that the Reserve Bank will soon issue digital currency, which will be based on blockchain technology. It can be used under digital transactions in government services. However, not much has been said in the budget regarding Cryptocurrency Tax. A bill in this regard is also pending with the government.
digitization of post office
Not only this, the government also emphasized on digitization of post office in this budget. The Finance Minister told in his budget speech that post offices will now be completely digital. Finance Minister Nirmala Sitharaman said that 1.5 lakh post offices will have 100 per cent core banking system. Through this, there will be access to accounts through Net Banking, Mobile Banking, ATM. Apart from this, money can be transferred online between post office accounts and bank accounts.