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During a discussion on the UPI payment system, economist Santosh Mehrotra addressed the debate over merchant transaction charges and government subsidies. Mehrotra noted that the government has been subsidising merchants to the tune of 2,000 crore rupees annually using taxpayer money, arguing that public funds should not cover these expenses indefinitely. He stated that the cost of UPI operations should instead be apportioned among the three primary commercial beneficiaries: banks, platform owners, and merchants, pointing out that banks generate substantial annual profits. While acknowledging the risk that merchants might eventually pass on a portion of the 0.4 per cent charge to consumers, he emphasised that small merchants alone should not carry the entire burden. Mehrotra remarked, 'Someone has to bear the cost,' urging the government to act as a regulator to distribute the financial burden across all stakeholders. Additionally, he discussed concerns regarding foreign pressure on digital payment systems and ongoing trade deal negotiations.