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PM Modi: UPI transactions making economy more transparent | India News

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NEW DELHI: Prime Minister Narendra Modion Sunday said growing volume of UPI transactions was making the economy more transparent and helping boost fin-tech.
In his monthly radio broadcast Mann ki Baat, he also nudged Indians to buy khadi, handloom and handicraft products during the festival season as part of his push for local items.
“…we can say with satisfaction today that our young generation is giving khadi the place of pride that khadi had during freedom struggle. Today the production of khadi and handloom has increased multiple times and its demand too has increased,” he said.
The sectors are seen to be massive employment generators with handcrafts alone employing an estimated 69 lakh workers with the handloom sector providing another 35 lakh jobs to weavers and allied workers. The handloom sector accounts for nearly 15% of the cloth produced in the country.
Similarly, the khadi and village industry units employ over 1.5 crore workers and artisans. Over the last few years, the Prime Minister has been pushing for khadi and other products, which many believe has helped boost their sales.
The sale of khadi products for instance shot up from Rs 1,170 crore in 2014-15 to Rs 3,527 crore last year.
Pointing to the Rs 355 crore UPI transactions in August, the PM said: “Today, because of this the rightful money of the poor is getting credited directly into their accounts and because of this, obstacles like corruption have reduced very significantly. It is true that technology can help a lot in economic cleanliness.



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