The Prime Minister Mr.Narendra Modi and his Union Finance Minister Mr.Arun Jaitley lauded and launched the concept of digital India and cashless economy and financial system as a Panacea for rooting out the evil of tax evasion and tax theft. From the day one of this day it is posing problem than facilities.
Now the Union Home Ministry of the Modi Government itself warming the people to beware of mounting fraud and cheating in the digital financial transactions. The Union Home Ministry expressed serious concern. It asked the people to be very cautious while using Debt, Credit cards, E-wallet through mobile transaction. There are too much fraud and cheating in such mobile financial dealings.
The Union Home Ministry has asked all the State Governments to take prompt action on such digital crimes. But instead of alerting the States about it the Central Government itself should defer the schemes of Digital India and cashless transactions.
Due to massive cyber crimes and fraud the people are themselves becoming “cashless”. Often messages on phone are pouring from their banks that someone at a far off place has drawn huge amounts from their bank accounts within minutes people are robbed off their money sitting at home.
The Intelligence Bureau of the Home Ministry has set up a nodal agency to handle this crime situation. The Ministry has admitted that the criminals are using different ways and means frequently to rob the people on digital mode. The banks are also unable to help such trapped people and merely advising them to remain alert and vigilant.
The ATMs are not safe for banks and customers. Even the clients were robbed on pistol point right inside the ATM. The staff of cash keeping agency themselves putting in short supply or fake notes.
Even in GST the concept of one nation, one market and one rate are not taking shape. The petrol and diesel are kept out of the orbit of the GST. In every production and movement of goods for procuring raw materials and sending out finished products the transportation cost, loading and unloading are just half of the expenditure and price fixation. Unless petrol, diesel and transportation costs are included in the GST, the basic concept of the GST will be never be achieved.
People are a dire need for the full protection from cyber crimes and haphazard ways of Digital India.