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Following demonetisation, here's what the govt has offered on digital payments

Speed News Desk | First published: 8 December 2016, 20:13 IST
Following demonetisation, here's what the govt has offered on digital payments

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.
Prime Minister Narendra Modi today took to Twitter and announced the following decisions taken by the Centre:
First published: 8 December 2016, 20:13 IST
 
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