In support of cashless transaction, Finance Minister Arun Jaitley on Thursday announced discounts on digital payments on purchase of fuel and railway tickets. Suggesting that transaction through cash has economic as well as in-built cost in a democratic set-up, the finance minister said the government is promoting payment by credit, debit cards and e-wallets.
Speaking to media on the completion of one month of the demonetisation decision, Arun Jaitley said the country has seen many changes in last one month. "Today its one month since PM announced demonetisation decision and in last 30 days we have seen major changes in economy," said Arun Jaitley adding that the aim of demonetisation has been to move towards digital transactions.
He also said that the RBI will release currency as per schedule.
- Petrol / Diesel will cost cheaper for those who pay by digital mode, to get 0.75% discount.
- With effect from Jan 1st 2017, 0.5% discount on suburban railway tickets / season tickets.
- Insurance cover worth of Rs.10 lakhs for those who book train tickets through digital mode.
- 5% discount on digital payment mode for railway facilities like catering, retiring rooms.
- Buying general, life insurance policies from PSU insurers' websites and premium to get 10% and 8% discount, respectively
- Two POS machines will be given to villages with 8000 population and above, 1 lakh villages to be selected.
- People who pay digitally, and use Smart TAGs and RFID facilities at toll plazas on national highways will get a 10% discount.