It is raining discounts on digital payments as Centre pushes for cashless economy
A month after the Centre's demonetisation move, the Union government is doling out discounts on digital payments in a bid to encourage cashless economy.
Union Finance Minister Arun Jaitley on Thursday announced new proposals by the government to encourage digital payments.
Observing that there has been a 20 to 40 per cent increase in digital payments at petrol bunks since demonetisation, Jaitley announced that petrol and diesel will be cheaper for those who pay via digital mode with a 0.75 per cent discount.
The government will provide two point of sale machines for free to each village that has a population of over 8,000.
Dealing in cash has economic costs, so the government is promoting payment by credit, debit cards and e-wallets:FM Jaitley pic.twitter.com/opqVGyMu1p— ANI (@ANI_news) December 8, 2016
Further, online ticket for railways bought by digital payments will get Rs 10 lakh insurance. Other facilities in railways that are paid for through a digital form will be 5 per cent cheaper.
The government added a discount of 10 per cent on highway tolls on payments made via digital platforms.
Jaitley also added that 0.5 per cent discount will be given on sale of ticket for those travelling on suburban railways from January 1 if payments are made in a digital mode.