PAN 2.0: The Promising Technological Revamp Lacks Clarity On Changes
Till more information is released, we're not sure what exactly the changes are from the current system, said Arnav Pandya.
Technology-based advancements have brought better convenience across various facets of life, right from cashless payments to online portals. The PAN card system is set to get a technological upgrade after the approval of PAN 2.0 during the Cabinet meeting, on Monday.
The financial implication of the new system is said to be worth Rs 1,435 crore. The approved system is set to have four key features that will revamp the digital structure of the current system.
The new system will have better ease of access and speedy service delivery with improved quality, according to a release. There will also be a streamlining of the system, as PAN will have a single source of truth system and data consistency. More eco-friendly processes and cost optimisation were also highlighted as part of the coming system. Focus on security and optimisation of infrastructure for greater agility are among other features.
Key Highlights
The new system is highly upgraded from the existing structure, according to Union Minister Ashwini Vaishnaw. A revamp in the digital back-bone of the current system is expected. There will also be a broader streamlining of the numbers required by businesses, as PAN will be a common business identifier, said Vaishnaw.
This system will make space for a better accessible portal, compared to the software system that is in place. This is a move to boost the digitalisation in India, he said. The system is set to be completely paper-less and fully online, according to the minister.
The focus on the grievance-redressal system was also noted as a significant improvement. The system will aim to have effective resolution of issues that users face in the PAN 2.0 system.
QR code will reportedly be incorporated in all new and old cards, under the new system.
Implications
As far as details of implication go, there is a lack of clarity in the exact measures that PAN 2.0 will have for better ease of use and security.
"Till additional information is released, we're not sure what exactly the changes are from the system we have now," said Arnav Pandya, founder of Moneyeduschool. Once more details are known, then we will know the utility of this move, he said.
"QR code-like facilities will make it easier to capture the information, and in that sense, this will be an upgrade as everything is moving toward QR codes like UPI payments. Instead of information being printed, maybe the code can help capture information better," he said.
