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Cabinet clears PAN 2.0, other projects
Mint Mumbai
|November 26, 2024
The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Monday approved the revamp of the Permanent Account Number system to introduce PAN 2.0, along with projects worth ₹22,847 crore in various domains including agriculture, railways, green energy, and education.
The cabinet also approved a proposal to waive bank guarantees that telecom service providers had submitted for spectrum auctions till 2022. The in-principle approval is set to benefit Vodafone Idea the most, along with Bharti Airtel, which was to submit bank guarantees of nearly ₹24,700 crore and had sought a waiver.
PAN 2.0 is expected to cater to demands of businesses, focus on efficient grievance redressal, and provide better cybersecurity. Existing PAN card holders will not need to change anything or apply for new cards, Union minister of information and broadcasting Ashwini Vaishnaw said in his address to the media.
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