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Prayagraj gears up for innovative digital market, exclusively for smart payments
As part of the project, informative signage will adorn the entrance of the proposed digital market, providing essential instructions for visitors and shoppers.
PRAYAGRAJ: A pioneering digital market, exclusively facilitating digital and smart mode payments, is set to debut in Prayagraj. Spearheaded by Divisional Commissioner Vijay Vishwas Pant in collaboration with local trade organisations, this initiative aligns with the Yogi Adityanath-led state government’s drive to promote digital payments statewide.
As part of the project, informative signage will adorn the entrance of the proposed digital market, providing essential instructions for visitors and shoppers. The focus on digital payments aims to foster smart payment practices, according to officials.
“We’ve tasked district officials with pinpointing the ideal location for this digital market. Ongoing discussions with traders are underway, and we’re aiming to finalise the site soon,” said Prayagraj Divisional Commissioner Vijay Vishwas Pant.
Trade organisations have shown support for these administrative efforts, while also offering suggestions. Mahendra Goyal, State President of the Confederation of All India Traders (CAIT), welcomed the state government’s endeavour, emphasising the importance of aligning with shopkeepers’ business interests. He noted that presently, only a limited number of district customers opt for digital payments, and raising awareness about the benefits is key to mission success.
Vinay Tandon, state president of Eastern U.P. Chambers of Commerce and Industry, suggested that alongside establishing the digital market, an initial temporary offline payment alternative could enhance effectiveness before transitioning fully to digital payments.
Senior Chartered Accountant Pawan Jaiswal, hailing from Prayagraj, highlighted the advantages of the digital market. This innovative step is anticipated to boost income tax collection, enhance sales transparency, and contribute to the economy’s growth.
Pawan Jaiswal noted, “This year, 80% of GST and Income Tax collections have occurred online. Following demonetisation, digital payments have seen rapid growth in urban areas. Approximately 60 to 65% of people in Prayagraj city currently opt for digital payments. In this context, the digital market initiative is a welcome move.”
