In a bid to promote cashless transactions, Union Finance Minister Arun Jaitley, on 8 December, announced various discounts on digital payments.
Suggesting that transactions through cash have economic as well as inbuilt cost in a democratic set-up, the Finance Minister said the government is promoting payment by credit, debit cards, and e-wallets.
Jaitley said the country has seen many changes in last month and announced a slew of measures that the government has taken to expedite the digital switchover, including a 0.75% discount for those who purchase petrol or diesel through digital payments.
Here are the measures announced:
- 0.75% discount for buying fuel through digital transactions.
- Insurance cover worth Rs 10 lakh for those who book Railway tickets through digital mode.
- People using FASTAG and RFID TAGS on Toll Plazas at national highways will get 10% discount for digital payments.
- 5% discount on digital payment mode for railway facilities like catering, retiring rooms.
- People buying monthly seasonal tickets in the Suburban railway networks through digital payment mode, to get 0.5% discount.
- No service tax will be charged on debit and credit card transactions of up to Rs 2,000. Currently, a 15% tax is imposed on these transactions.
- Buying general, life insurance policies from PSU insurers' websites and premium to get 10% and 8% discount.
Benefit at petrol pumps. pic.twitter.com/XxBBSnfcKm— Narendra Modi (@narendramodi) December 8, 2016
POS machines in villages and 'Rupay Kisan Cards' for farmers. pic.twitter.com/fr1bFq24Fb— Narendra Modi (@narendramodi) December 8, 2016
Digital payments for ticket discounts. pic.twitter.com/2yH8vuMi0G— Narendra Modi (@narendramodi) December 8, 2016