Shubham Jha

[Shravan Venkataraman @theBuoyantMan]

NPCI is effectively a profit making organisation. UPI is infra built with taxpayer money.

We are still paying taxes, and what government gets out of UPI is lower unaccounted cash floating in the system and thereby more money flowing into the system.

By charging the people for these transactions, or even merchants (which will most immediately be passed on to consumers), government is going to discourage honest taxpayers from using UPI, and turn towards cash or find any possible ways to not bear the burden on the already broken backs.

Housing is unaffordable in most major cities. Real estate is sky high that even supposedly upper middle class salaries can't afford a home near the workplace of said jobs.

All this money making and tax grab at the cost of the future of everyone who pinned their hopes on better governance.

There will be a point where everyone will say "fuck this shit" and start being everyone for themselves and then the country that's already gone to shit will become a gutter.

The more this government keeps milking the 2% population that does things the right way and legally, the more the blowback is going to be to this government at some point.

It's not that UPI being charged is an issue, but it's when these charges are being brought up, all with the rumoured US overlords being unhappy about their core payments processors and infra providers being upset about India's rise in this segment on par with China.

If you write away the entire country to Gujju businessmen and US political influence, why even bother calling it a democracy or a government, why not name it dictatorship because nobody is happy about these measures.

[Ashish Jain @In_Sane_Saint]

if government can fine people for not having insurance, PUC and other stuff, citizens should also be given a chance to fine government for potholes and broken roads

[Shubham Jha @jhweeter]

@kushal_mehra Hw is @ajayrotti making sense. Why can't UPI be treated as a public service? It costs like 15-16K Cr/year. u mean to say tht a $4trn eco. can't sustain a $2Bn payout for a service that is most extensively used by the highest no of tax payers?

[Venkatesh Alla @venkat_fin9]

Direct taxes now make up 58.81% of India's total tax revenue, the highest share funded overwhelmingly by a tiny sliver of honest filers. Yet potholes swallow cars, hospitals run out of beds, and schools lack teachers. Where exactly is all that money actually going?

[Arun Arora @Arun2981]

2011- 12 waali feeling aa rahi hai

Corruption news everywhere

Crumbling infrastructure

Economy stagnant

Protests

Arrogant govt

Censorship

Governance failure

PM / HM out of action

[Shubham Jha @jhweeter]

@TweetinderKaul @grok u think the govt can't bear 15k cr/yr & treat UPI as a public utility infra?

I can bet that the highest user demography of UPI intersects significantly with tax payer demographic.

The govt can't use tax payer money to provide a service that they use the most? Seems stupid

[Shubham Jha @jhweeter]

@TweetinderKaul @grok approximate (guesstimate) the total cost incurred by Indian Govt to subsidize 100% upi transactions/year

[Shubham Jha @jhweeter]

@Neha_S_Patel it's surprising how little this point get brought up in any discussion. As if water isn't a problem at all.

Imagine the level of misinformation that evn farmers support this. They are now willing to destroy the long term fertility of land and water table for immediate gains.

[Shubham Jha @jhweeter]

@t41der @TheoAryavarta @theskindoctor13 Fair point. Indian RW needs to start decoupling from BJP.

All BJP cares about is election. They have completely abandoned the ideology, economic framework, and accountability.

If that were untrue, we wouldn't have seen such rapid blows to BJP within 100 days of Bengal elec.

[Shubham Jha @jhweeter]

@t41der @TheoAryavarta @theskindoctor13 And literally everyone from the so called RW is calling people stupid for "not understanding that this is being charged to merchants and not users".

Bhai tum thode pagal wagal ho kya. Itna math to panwari hi kar deta hai

[Shubham Jha @jhweeter]

@grok @GuruShareMarket @grok will this increase in merchant cost will be transferred to customers. If not directly then with a slight increase in prices of the product/service.

Also clarify if this opens doors for future increase in cost/trans and expanding the ambit to cover regular users.

[Shubham Jha @jhweeter]

@Neha_S_Patel 100% agreed. & the biggest problem is lack of accountability. I usd to think tht politicians hve it easy. Bt honestly they are the most accountable of the lot. Atleast they fear elections.
babus, IAS, judges, cops or any person in power have zero fear/accountability.

[Neha Patel @Neha_S_Patel]

India doesn't have a revenue problem.

It has a spending accountability problem.

If collecting more tax automatically solved problems, India should already have world-class public services.

Tax collection is measurable.

Government efficiency is what nobody wants to measure.

[Anjaneya Sevak @anjaneyasevak]

Narendra Modi, I was once one of your biggest supporters. But it feels like you and the RSS have decided to give up on India's interests.

Surrendering to the USA over these new UPI rules, while your entire government machinery and even our defence establishment seem highly compromised, is deeply disappointing.

You are simply preparing for power transfer from BJP to Congress. Nothing else.

[Shubham Jha @jhweeter]

@t41der @TheoAryavarta @theskindoctor13 100%. It's like the govt has decided to present worst solution to any problem. And more often create issues where none exist.

That or it now time for babus at NPCI to eat their share of the pie. On every transaction no less.

[Shubham Jha @jhweeter]

@kushal_mehra Its not free. It's paid for by taxes. If we crnch the numbers on UPI highest user demographic I cn bet it intersects well wth the tax payer bracket.

It means the ppl who pay for almst evrything in the country, wnt their money to fund somthng they use & not just welfare schemes.

[Shubham Jha @jhweeter]

@AadiAchint Yes but this is over and above. Do you think NPCI will implement corporate structure of they start earning rev /transaction? Emps will be fired or paid based on performance?

This is tax payer money+ another surcharge. Why are you behaving as if that's not the case?

[Shubham Jha @jhweeter]

@bookmarkdiaries How much does it cost to keep UPI free? $2bn? $3bn?

For an economy ~$4trn this is peanuts for such a huge public utility. Is tax payer money for freebies? Or will anything useful be ever supported by our money?
UPI ke time capitalism & ladli bahin ke time welfare?

[Shubham Jha @jhweeter]

@desishitposterr Bro u get tht 1000cr/year is peanuts for India whn the Gdp is close to $4tr right? Govt shud absorb that cost.

If UPI earns / transaction thn would it's emps be Liable to layoffs & performance based pay? Or do u think this income is over an above the budget allocated to NPCI?

[Shubham Jha @jhweeter]

@Sanju_Verma_ Stop being condescending. why haven't you answered the next question- how will it bemsured that this charge won't be passed along to users - LIKE EVERY OTHE PAYMENT system?

Easy to call people daft & ignorant. Tough to answer questions outside ur list of talking points. DAFT