Briefing media after the cabinet meeting, information and broadcasting minister Ashwini Vaishnaw said PAN 2.0 will revamp the complete I-T backbone of existing system and it will be used as common identifier for businesses, a long-pending demand of the business community.
"The PAN card is an integral part of our lives, especially for the middle class and small businesses. It has undergone significant upgrades, and PAN 2.0 has been approved today. The existing system will be enhanced, and a robust digital backbone will be introduced," Vaishnaw said.
The Union government has so far issued about 78 crore (780 million) Permanent Account Numbers (PANs), of which about 98% are issued to individuals. The I-T department and the finance ministry did not respond to specific queries related to the project.
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