Prime Minister Narendra Modi after those tall talks of the Cashless economy slowed down in the implementation. Economic experts feel that things will be back to normal once the frills on the savings accounts are totally eased from March 13th.
But then Telangana government seems to very serious on implementing Cashless economy. The state government is planning to bring in a new act which will make it compulsory to have all the transactions through Aadhar Card. This act will be more stringent that the law being brought up by the Central government.
Telangana government is spending 30000 Crore on various welfare schemes every year. But then according to the government estimates, about 25% of this, that is about 7500 Crore every year. This legislation will be used to eradicate the leaks and will ensure that the money reaches the eligible.
Maharashtra and Gujarat have such legislations and Telangana government is planning to bring even tougher act. But then it is not that easy to change the habits of the people who are accustomed to the usage of cash and have no proper knowledge on transacting cashless.
