BJD's Santrupt Misra Calls for Alternative Funding for UPI Enhancements

Concerns Over UPI Funding and Merchant Discount Rate

New Delhi/Bhubaneswar: On Saturday, Santrupt Misra, a prominent leader of the Biju Janata Dal (BJD), urged the Central government to consider alternative funding strategies for enhancing infrastructure and cybersecurity within the Unified Payments Interface (UPI), emphasizing the need to safeguard small businesses and consumers.

Earlier, Naveen Patnaik, the Leader of the Opposition in Odisha and BJD President, expressed his concerns regarding the newly introduced 0.4 percent Merchant Discount Rate (MDR) applicable to certain UPI transactions exceeding Rs 2,000. He stressed the importance of protecting the interests of everyday citizens and small traders, including shopkeepers.

In a statement to the media, Misra acknowledged the significance of UPI as a crucial innovation.

He stated, "The issue isn't whether funding is necessary for enhancing cybersecurity and technology platforms, but rather how this funding will be sourced. Who will bear the costs? And how can we ensure sustainable investment in this initiative?"

Misra reiterated BJD's commitment to protecting consumers and small enterprises, saying, "There are various potential funding avenues we should explore instead of imposing additional charges on small businesses."

Responding to a social media post by Congress MP Gaurav Gogoi, which claimed that the Parliament Standing Committee on Finance had not reviewed the UPI tax proposal recently announced by the Central government, Misra stated he was unaware of such discussions.

Nonetheless, he called on Bhartruhari Mahtab, Chairperson of the Parliament Standing Committee, to clarify whether the committee had addressed UPI-related issues and the specifics of those discussions.

Furthermore, he emphasized the necessity for greater transparency in the operations of Parliamentary committees concerning public interest matters.

"The public deserves to know what was discussed regarding specific issues and why constructive suggestions, if any, were overlooked," he remarked.

In the meantime, the Odisha Congress has vehemently criticized the Union government over this matter, likening the 0.4 percent MDR on UPI transactions to the historical 'Jizya tax'.