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To improve cash flows, the Council has proposed faster processing of GST refunds.
The proposed amendment, tabled by FM Nirmala Sitharaman, marks a shift from the existing legal framework, under which UPI enjoys a statutory exemption from MDR.
The union minister also proposed to top up the Self-Reliant India Fund with Rs 2,000 crore to continue support to micro enterprises.
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman chaired a meeting to review various aspects and the way ahead for the UPI ecosystem.
While the government insists UPI is free, hidden charges, unsustainable incentives, and industry frustrations tell a different story.
Finance Minister Nirmala Sitharaman presented Union Budget 2025-26 in the Parliament today.
