During a cabinet meeting, Union Minister Ashwini Vaishnav announced that the central government has approved the PAN 2.0 Project to enhance the experience of digital taxpayers.Vaishnav said the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved a project that will offer a free upgrade of PAN Cards, which will include a QR Code.

The project will use technology to improve the process of registering taxpayers and will bring many benefits. With the help of this upgrade, users will have easier access, faster service delivery, and improved quality. It will also offer a single, reliable source of information, ensuring data accuracy and consistency. Apart from this, it is an eco-friendly and cost-friendly process with improved security and enhanced infrastructure.

The PAN 2.0 Project is an e-governance initiative aimed at improving the process of taxpayer registration. It uses technology to transform PAN/TAN services, providing a better digital experience for taxpayers.

The project will also upgrade the existing PAN/TAN 1.0 system, streamlining both core and non-core PAN/TAN activities, along with the PAN validation service. It aligns with the Indian government's Digital India vision by making PAN a universal identifier for all digital systems used by designated government agencies, the statement further mentioned.

The aspiring project is being developed at an estimated cost of Rs 1,435 crore. "The current system will be upgraded, and a new digital infrastructure will be introduced. Our goal is to make it a common business identifier. There will be a unified, paperless, and fully online portal, with a strong focus on an efficient grievance redressal system," said Union Minister Vaishnaw during a Cabinet briefing.