UPI Transactions– Central government makes a big comment on UPI Transactions. Minister of State for Finance (MoS) Pankaj Choudhary made it clear in the Rajya Sabha during the Monsoon Session that the government is not going to levy GST on UPI transactions above Rs 2000. While responding to questions in the Rajya Sabha on July 22, the minister dismissed speculations that the Finance Ministry is planning to levy GST on Unified Payments Interface (UPI) transactions that are above Rs 2000. “There has been no recommendation from the GST Council to levy GST on UPI transactions above Rs 2000,” the minister said.
Apart from this, Chaudhary said that at this time the government does not see any possibility of revenue deficit and it is working towards achieving the targets of budget estimates for 2025-26. The fiscal deficit for 2025-26 has been estimated at Rs 15.69 lakh crore, which is 4.4 percent of GDP. What did he say about government banks? Responding to another question, Chaudhary said that as per the information received from Public Sector Banks (PSBs), as on March 31, 2025, they have 96 per cent employees as compared to their business requirements.
He said, “This small part of the shortage is due to retirement and other common reasons, such as unexpected resignations. During the last 5 years (FY 2020 to 2025), banks have recruited 148,687 employees and the recruitment process is underway for 48570 employees for FY 2025-26.”
Food, Public Distribution and Consumer Affairs Minister Pralhad Joshi had said last week that GST notices to small traders in Karnataka have been issued by the state government and the central government has no role in it.
Who issued the notices?
He clarified that GST has two components – CGST (Central GST) under the central government and SGST (State GST) under the state governments. The notices to small traders in Karnataka were issued by the state’s commercial tax department.