Cash Transactions Should Be Capped At 2, Not 3 Lakhs, Says Government

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Cash Transactions Should Be Capped At 2, Not 3 Lakhs, Says Government

The government had proposed a penalty on cash transactions above Rs 3 lakh in the Budget.

New Delhi:  Any cash transaction of more than two lakhs should be penalised at 100 per cent, the government has proposed today.

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In his budget presented in February, Finance Minister Arun Jaitley had said cash transactions would be capped at Rs 3 lakh. The government wants to reduce the limit to Rs 2 lakh.

The proposal is aimed at curbing black money.

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