NITI Aayog VC defends UPI merchant fee, says businesses must be self-sustainable

The Vice Chairman of NITI Aayog has defended the decision to introduce a small fee for certain Unified Payments Interface (UPI) transactions. This fee will apply to businesses that process transactions exceeding two thousand rupees, but person-to-person and small payments will remain exempt. The goal is to make businesses self-sustainable without relying on government subsidies, which could help the economy in the long run. This move aims to promote financial discipline among businesses and encourage them to manage their expenses effectively.

Why it matters

The government's decision to introduce a small UPI transaction fee may affect businesses' profitability. However, it aims to make businesses self-sustainable without relying on government subsidies.

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