Digital transactions have become an integral part of our lives today, and UPI has made the biggest contribution in this. For some time, there were speculations that the government was considering imposing Goods and Services Tax (GST) on UPI transactions above ₹ 2000, which was worrying crores of common Indians.
But now, very relieving news has come. Minister of State for Finance Pankaj Choudhary has made it completely clear during the Monsoon Session in Rajya Sabha that the government is not going to impose GST on UPI transactions above ₹ 2000.
While answering questions asked in the Rajya Sabha on July 22, the minister strongly denied all the speculations that the Finance Ministry is working on any such plan. The minister said in clear words, “There is no recommendation by the GST Council to impose GST on UPI transactions of more than ₹ 2000.” This statement is a big relief for crores of digital users.
State of the government treasury
Minister of State for Finance Pankaj Chaudhary also shared important information regarding the economic health of the country. He assured that at present the government does not see any possibility of any kind of revenue deficit. This is a positive signal that the country’s economy is moving in the right direction.
Choudhary said that the government is working strongly towards achieving the targets of the budget estimates set for the financial year 2025-26. The fiscal deficit for the financial year 2025-26 has been estimated at ₹15.69 lakh crore, which is 4.4 per cent of the gross domestic product (GDP). These figures reflect the financial stability and prudent economic management of the government.
Employee strength and recruitment drives in public sector banks
The government also highlighted the staffing situation and recruitment drives in the country’s public sector banks (PSBs). This is important information for the youth looking for employment opportunities in the banking sector.
Responding to another question, Chaudhary said that as per the information received till March 31, 2025, 96 percent of the employees in public sector banks are posted as per their business requirements. He clarified, “This small part of the reduction is due to retirement and other common reasons, such as unexpected resignations.”
The minister also informed that during the last 5 years (from financial year 2020 to 2025), banks have recruited 148,687 employees. In addition, the recruitment process for 48,570 employees for the financial year 2025-26 is still underway. This shows that public sector banks are constantly strengthening their workforce and creating employment opportunities for the youth.