27th November 2024 (17 Topics)
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PAN 2.0 Project
Context
The Union Cabinet has approved the Rs 1,435 crore PAN 2.0 Project aimed at modernizing the Permanent Account Number (PAN) system.
What is PAN 2.0 Project?
- This initiative will transform PAN into a "common business identifier" for government agencies, offering QR-enabled cards, enhanced cybersecurity, and a unified digital portal.
- The system will allow for paperless services, improved grievance redressal, and faster services for taxpayers.
- Existing PAN holders won't need to apply for a new card but can opt to upgrade to the new PAN 2.0 card free of charge.
- The upgrade will provide enhanced features like QR codes and mandatory PAN Data Vaults.
- The project ensures better data consistency, eco-friendly processes, and quicker services for users.
- All PAN cards issued to date remain valid even after the rollout of PAN 2.0.
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