PAN to be used as single business ID for all digital systems: Budget 2023

PAN (permanent account number) will be soon used as a common identifier for all digital systems of specified government agencies. This will help in expediting clearances and promote ease of doing business.

The announcement regarding PAN was made by Finance Minister Nirmala Sitharaman in her Budget speech “For the business establishments required to have a Permanent Account Number (PAN), the PAN will be used as the common identifier for all digital systems of specified government agencies. This will bring ease of doing business; and it will be facilitated through a legal mandate”.

In the Budget speech, Finance Minister also said that the government is planning a one-stop solution for reconciliation and updating of identity and address of individuals maintained by various government agencies, regulators and regulated entities will be established using DigiLocker service and Aadhaar as foundational identity.

The concept of single business ID if implemented can bring revolution as things would be available on single click.

FM also mentioned that India will have a one-stop solution for reconciliation and updating of identity and address of individuals maintained by various government agencies, regulators and regulated entities will be established using DigiLocker service and Aadhaar as foundational identity.