E-payment system likely to curb black money

The government might be finding the Vijay Kelkar panel’s recommendations on subsidy reduction too hot to handle but it is eager to implement the committee’s suggestions on curbing the cash economy to counter black money. According to a senior finance ministry official, Finance Minister P Chidambaram is in favour of launching a systematic plan to counter black money through extension of electronic payment systems through the country, especially covering all government transactions.

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