The Goa government’s move to strive towards a cashless economy has both pros and cons, yet the move needs to be looked at mostly from a positive viewpoint. The benefits are immense for a state like Goa, but for this to happen the government needs to be organised and united.
The meetings have begun. Local ministers, bankers, government officials and the Defence Minister Manohar Parrikar, as well as Minister for Information and Broadcasting, Rajyavardhan Singh Rathore sat together and worked out a game plan for this move. The idea is to implement this is almost with immediate effect. By the beginning of 2017, Goa’s move towards a cashless economy should be in high gear. That’s what is expected, based on reports coming out from the government.
The idea is simple. Ensure that all government departments start paying out monies electronically. This doesn’t just cover salaries, but reimbursements, wages to the labour class and others. Officials and bankers will be meeting with members of the transport industry, from motorcycle pilots to taxi men, to educate them on the advantages of using point of sale machines. The same will be done for all outlets that come under the purview of the excise and commercial taxes departments. This means almost every store out there, from liquor to consumables. This move has to be carefully thought out, because there will be hesitation and opposition.
The reasons for that are many. A cashless economy means that almost all major transactions “ from paying bills, to buy goods, etc, are made via electronic transactions, be it by swiping debit or credit cards, or by using new age electronic wallets and payment gateways. What this does is negate the need to large amounts of cash to be carried or stored. This reduces all illegal movements of money, from black marketeers, to illegal trading and even the drug trade.
But all this hangs of the premise that the populace has possession of tools that make a cashless economy possible. For vendors, business people and traders, it would mean point of sale machines and access to e-wallets. Consumers would need cards and phones to enable electronic transactions. Even in Goa, there is a large percentage of the population that still has to get on the electronic bandwagon. This cannot happen
overnight.
While the idea of cashless economy works is urban areas. It is in the hinterland where the government will hit roadblocks. Also, what happens to tourists who come here with large amounts of foreign currency? Will the government also work on ways to bring down service charges for using electronic money? As in the case of demonetisation, the idea is commendable. The government of Goa would need to ensure that implementation follows a logical path.
