Source: News Bharati English09 Dec 2016 11:05:55
New Delhi, December 9: Union Finance minister Arun Jaitley exactly after a month of demonetization on Thursday announced various discounts in order to promote the use of digital transactions. Like to tell you that to promote cashless transactions government has taken a decision to provide tax break on use of credit, debit cards and E-wallets.
Government is using a mix of monetary incentives and waivers of taxes and transaction fees, the government sought to reduce the usage of cash for the sale of fuel at retail outlets of state-owned companies; the purchase of inter-state rail tickets and monthly passes in suburban rail networks; the purchase of insurance policies; and payments made to central government departments and public sector firms.
Speaking at the press conference Jaitley said country has seen many changes in last mone month. “Today its one month since PM announced demonetisation decision and in last 30 days we have seen major changes in economy,” said Jaitley adding that the aim of demonetisation has been to move towards digital transactions. He also said that the RBI is releasing currency as per schedule.
Government announced several measures in order to provide relief for the public who is facing several problems due to cash crunch and also to promote the use digital transactions are as follow:
1) Petrol/diesel cheaper for those who pay by digital mode, to get 0.75% discount.
2) NABARD will give Rupay card to people who have Kisan Credit Card
3) People buying monthly seasonal tickets in the Suburban railway networks through digital payment mode, to get 0.75% discount. This is effective from Jan 1st 2017, starting from the Mumbai suburban railways.
4) Insurance cover worth Rs.10 lakhs for those who book Railway tickets through digital mode.
5) 5% discount on digital payment mode for railway facilities like catering, retiring rooms.
6) Two POS machines will be given to villages with 10K population, 1 lakh villages to be selected.
7) 10% discount on RFID and FASTag procured through digital payments at toll plazas across all national highways.
9) Buying general, life insurance policies from PSU insurers’ websites and premium to get 10% and 8% discount, respectively.