Experts during the deliberation stressed better compliance processes to be put in place backed by technological support which in turn will enable tax widening and the need for strategies to strengthen tax collections from Tier 2 towns and cities to widen the tax net.
RBI has already launched the Central Bank Digital Currency CBDC-W and CBDC-R on a pilot basis for the Indian market. CBDC-W and CBDC-R refer to wholesale and retail, respectively.
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