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LocalCircles, a community social media platform, conducted a survey to understand citizens’ purchasing habits with and without a money receipt and the purpose of the transactions.
It also compared this year’s findings with a similar survey conducted in 2019 to understand the trend among citizens transacting in cash without a receipt in the last 12 months.
The survey received over 45,000 responses from more than 300 districts of India. Of these, 51 per cent of respondents were from tier 1, 34 per cent from tier 2, and 15 per cent from tier 3, 4, and rural districts.
The survey revealed that 48 per cent of the people preferred having transactions with a receipt in 2020. This shows that there has been a 50 per cent reduction in the number of citizens who do the majority of their monthly purchases without a receipt in 2020.
Also read: UPI transactions cross 200 crore in October
Over the years, India has witnessed a tremendous rise in the usage of digital payments. As per the RBI data published in October this year, India in FY20 witnessed a massive rise in volumes of digital payments to 3,434.56 crore.
The survey also intended to understand the purposes for which citizens transacted in cash without a receipt. It showed that 39 per cent of the surveyed respondents said “groceries”, 31 per cent said “salaries of domestic staff”, 9 per cent said “discretionary purchases and eating out”, 3 per cent said “property, rent and home repairs”, 1 per cent said “used vehicle”, 7 per cent said “bribes”, while 10 per cent said “didn’t make any purchases in cash”.
As far as illegal black money is concerned, 33 per cent of the respondents believe that “linking of all property ownerships with Aadhaar mandatorily” could reduce illegal activities.
Also read: UPI transactions see quantum jump in H1; IMPS growth slackens
According to the survey report, 38 per cent wanted “mandatory disclosure of all assets of all ministers and government employees and their direct families”, 10 per cent wanted immediate demonetisation of the ₹2,000 note, while 7 per cent sought a levy of 2 per cent transaction tax on all cash transactions above ₹10,000, 5 per cent each voted for “detailed scrutiny of all individuals with a Swiss Bank account” and “other things”, while 2 per cent said they had nothing to say.
LocalCircles stated that it will be sharing these findings with key stakeholders in the Government for their understanding and action.
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