IMPACT OF COVID 19 ON DIGITAL PAYMENTS IN INDIA- INCREASED USAGE, PROBLEMS AND GOVERNMENT SUPPORT IN BUDGET 2023-24

The aim of present research is to study the concept of digital payment along with impact of COVID-19 on
digital payment with special reference on consumer payments,
as we all know that people in the economy on first hand use
more of cash for any kind of their purchase made and even
few digital transaction also by linking the bank account
details, but due to the COVID 19 virus which had spreaded
across the country made the consumer to use more of the
mobile based applications to avoid direct contact with
merchants in a view that it transfer the virus, this made a way
to analyse growth of digital payment the economy. The
research paper is making focus on the problems of digital
payment system in India and effects of the system in people
and economic system of India. The research paper is also
trying to explain the future scope of the Digital payment system as announced in Budget 2023. The
secondary research covers some view-points or insights of other researches who contributed their
knowledge in related concern. The conclusion of present research paper shows that there is an high
increase in use of digital payments services through various applications in India which was not much high
before the happening of world-wide pandemic Covid-19.