Prime Minister Narendra Modi said the central bank digital currency, announced in the budget, will give impetus to the digital economy as transactions through it will be risk-free and secure and that it will be easily convertible to physical currency.
In a virtual address to BJP workers on Wednesday, he emphasised that the budget will benefit the common people, farmers and the poor through creation of jobs, encouragement to entrepreneurship, boost to social justice and increase in private investment.
“There is a lot of debate in newspapers today on the central bank digital currency. It will give a lot of impetus to the digital economy,” the PM said, addressing the ‘Aatmanirbhar Arthavyavastha’ (self-reliant economy) symposium organised by the BJP a day after the Union budget presentation.
“This digital currency – just like our physical currency – will be controlled, monitored and developed by the RBI (Reserve Bank of India). And it will be a system in which it