Cabinet Approves PAN 2.0 Project with ₹1,435 Crore Outlay
| Aspect | Details |
|---|---|
| Why in News | Cabinet Committee on Economic Affairs (CCEA) approved PAN 2.0 Project. |
| Financial Outlay | ₹1,435 crore |
| Objective | Digital transformation of PAN/TAN services. |
| Key Features | - No reapplication needed for existing PAN holders. |
| - Introduction of QR codes on PAN cards. | |
| - Focus on eco-friendly, paperless systems. | |
| - Improved security, efficiency, and data consistency. | |
| Benefits | - Faster service delivery and improved quality. |
| - Single source of truth for data. | |
| - Cost optimization and eco-friendly processes. | |
| - Security enhancement for better agility. | |
| Digital India Vision | PAN 2.0 to serve as a common business identifier across government systems. |
| **Relevance for Taxpayer | - Over 78 crore PANs issued. |
| - Upgrade will benefit 98% individual PAN holders. |