Govt Investing Rs 1,435 Crore To Make PAN Single Unified Digital Identifier

ENA Economy 2024-11-26 16:31:38 New Delhi, Nov 26 (KNN) In a significant move towards digital governance, the Indian government has approved the PAN 2.0 Project, a comprehensive initiative aimed at transforming taxpayer registration services through technological innovation. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has sanctioned a financial investment of Rs 1,435 crore for this ground-breaking project. The project seeks to elevate the Permanent Account Number (PAN) into a unified digital identifier across multiple government agency systems, aligning with the Digital India vision. Information and Broadcasting Minister Ashwini Vaishnaw highlighted that the initiative will enable technology-driven transformation of taxpayer services, focusing on enhanced accessibility, expedited service delivery, and improved overall quality. Key objectives of the PAN 2.0 Project include establishing a single source of truth for data consistency, implementing eco-friendly processes, optimising costs, and strengthening infrastructure security. Reacting to the development, Chairman of Banking and Finance Committee of Federation of Indian Micro and Small & Medium Enterprises (FISME), Neeraj Kedia terms the development business friendly in principle. A single identity for all the regulatory and tax compliances could definitely result into ease of doing business. The multiplicity of identities for PAN, TIN, DIN, CIN etc. along with PF and ESI regulations is a nightmare for MSME owners, he added. The project represents a comprehensive re-engineering of PAN/TAN services, upgrading the current ecosystem to provide an enhanced digital experience for taxpayers. Currently, approximately 78 crore PANs have been issued, with 98 per cent allocated to individuals. The new project is expected to consolidate both core and non-core PAN/TAN activities, including robust PAN validation services, marking a significant technological leap in government digital infrastructure. The PAN 2.0 Project underscores the government's commitment to digital transformation, promising more efficient, secure, and user-friendly tax-related digital services for citizens and businesses alike. (KNN Bureau) 40046 https://knnindia.co.in/news/newsdetails/economy/govt-investing-rs-1435-crore-to-make-pan-single-unified-digital-identifier 2024-11-26 16:31:38 knnindia.co.in Govt Investing Rs 1,435 Crore To Make PAN Single Unified Digital Identifier