Launch of e-Bill processing system

Launch of e-Bill processing system

Part of: GS-Prelims and GS-II: Governance

In News: Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman launched the Electronic Bill (e-Bill) processing system, announced in Union Budget 2022-23.

• Part of ‘Ease of Doing Business (EoDB) and Digital India eco-system’ to bring in broader transparency and expedite the process of payments.

What is e-Bill processing system?

• The e-Bill Processing System is a step towards enhancing transparency, efficiency and a faceless-paperless payment system. Now suppliers and contractors will be able to submit their claims online, which will be tracked on real-time basis.
• In simpler terms, e-Billing is a way of transacting bills digitally rather than the traditional use of paper. Customers can get their bills online, via email, or in machine-readable data forms when billed electronically.
• As e-Billing is time efficient, this would be a quick and simplified way better fitted to the government’s call for making India digital. It would also reduce errors.

The e-Bill system has been rolled out on a pilot basis in eight ministries. It will be implemented in all ministries and departments in a phased manner in 2022-23.

News Source: PIB