Promote cashless transactions to strengthen economy: JP Nadda

Shimla, Oct 5: Union minister J P Nadda urged people to adopt cashless transactions to strengthen the economy, saying it would increase the income of the banks and accelerate development.

Speaking at 'Mudra Protsahan' programme organised by the state-level bankers' committee here, Nadda said there were only 24.4 lakh taxpayers out of which only 47,417 had declared their annual income to be above Rs 1 crore.

He said banking facilities had only reached 3.25 crore people from Independence till 2014 but after the launch of 'Jan Dhan' programme by Prime Minister Narendra Modi, the number reached 30 crore.

He said 14.5 crore people were insured under the Prime Minister's Health Insurance scheme and small entrepreneurs were deriving benefit of the 'Mudra Yojana'. Nadda said keeping in view the needs of Himachal Pradesh, inter-state helicopter services would be started soon to connect Shimla, Dharamsala and Kullu to Chandigarh.

PTI