♦ The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi approved the Income Tax Department’s PAN 2.0 project with an allocation of Rs.1,435 crore  on 25 November 2024. 

♦ The PAN 2.0 project aims to introduce a technology-driven overhaul of taxpayer registration services, offering several key benefits, including improved accessibility, faster service delivery, enhanced data accuracy, eco-friendly processes, cost efficiency, and upgraded infrastructure security for greater agility.

♦ The project will consolidate core and non-core PAN/TAN activities and upgrade the PAN validation service, thereby replacing the existing PAN/TAN 1.0 system.

♦ The CCEA noted that the PAN 2.0 project aligns with the government’s Digital India vision by establishing PAN as a universal identifier across digital systems for specified government agencies.