From the day of Demonetisation, the Prime Minister Narendra Modi and Finance Minister Arun Jaitley have been trying to promote cashless transactions in our country. On Thursday to boost digital payments the Finance Minister announced various discounts on digital payment methods. These discounts are mainly on fuel and train tickets. He suggested that cash payments in a democratic setup are not highly beneficial and will cause distress in the economy. The government is promoting debit cards, credit cards, e-wallets and online payments for same reason.
Jaitley while speaking to media on the completion of one month of the Demonetisation decision, said the country has seen many changes in this one month. He added that “Today it’s one month since PM announced demonetisation decision and in last 30 days we have seen major changes in the economy.” He also said the aim of Demonetisation was finally to move towards digital transactions. He also assured that the RBI is releasing currency as per schedule.
Some of the major announcements made by Jaitley to the press include:
- A 0.75% discount to all those who use digital mode of payment for the purchase of Petrol and diesel.
- 0.75% discount to all those buying seasonal tickets in the suburban railway network. This will be effective from January 1, 2017.
- All those with Kisan Credit Card can collect Rupay card from the National Bank for Agriculture and Rural Development, NABARD.
- Rs.10 Lakh worth insurance cover for those who book their railway tickets by digital payment.
- On Railway facilities like catering and rental rooms individuals can avail 5% discount
- From the rural areas, 1 lakh villages with 10,000 will be selected and two POS machines will be installed for all the transactions.
- 10% discount on digital payments on all the national highways.
- Buying life insurance policies from PSU insurance websites you can get a discount of 10% and 8% on the premium
