Govt's next move: To eliminate checkbook system
The Confederation of All India Traders (CAIT) has made a very shocking claim that the next step of the Modi govt may be to withdraw the chequebooks. This decision may be aimed to promote Digital Transaction. CAIT's Secretary Praveen Khandelwal said that this will also reduce the government's expenditure as the government has to spend Rs. 6,000 Cr on security and logistics of printing of Rs 25,000 Cr currency notes.