Digital payments have significantly increased in recent years, as a result of coordinated efforts of the Government with all stakeholders. This was stated by Union Minister of State for Finance Dr. Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha today.
The Minister stated that the total digital payment transactions volume increased from 2,071 crore in FY 2017-18 to 13,462 crore in FY 2022-23 at a CAGR of 45% and crossed 10,998 crore during current financial year till 27.11.2023. The details of the progress made in the number of digital payment transactions during the last three years and current year are as below:
| Financial Year | Target
(in crore) |
Achievement
(in crore) |
Value
(in ₹ lakh crore) |
| 2020-21 | 5,500 | 5,554 | 3,000 |
| 2021-22 | 6,000 | 8,839 | 3,021 |
| 2022-23 | 13,233 | 13,462 | 3,355 |
| 2023-24
(till 27th Nov’23) |
18,000 | 10,998 | 2,290 |
