A Public Good Needs Funding. Who Should Actually Pay For It?
Parliament recently passed the Taxation and Other Laws (Amendment) Bill, 2026, rewriting Section 10A of the Payment and Settlement Systems Act so that instead of an absolute prohibition on charging fees for BHIM-UPI and RuPay transactions, the government now has the power to notify in future which modes may carry a charge. While no fee applies today, the change comes as the government's UPI incentive outlay is projected to…