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Govt. announces smart discounts on online payments

Shobhit Kalra

Shobhit KalraBy Shobhit Kalra

Published on 8 Dec 2016 2:23 PM GMT

Govt. announces smart discounts on online payments
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Arun Jaitley assures smooth transition into GST regime
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New Delhi: In a major announcement, Finance Minister Arun Jaitley said on Thursday that the persons who make payments for petrol and diesel digitally will get 0.75 per cent rebate of the total amount.

On one-month anniversary of demonetisation, Jaitley, in a press brief in the national capital, announced 11 lucrative measures to fasten the digital switchover and also to combat the ongoing cash crunch in the country.

Below are the excerpts of Finance Minister Arun Jaitley's media interaction:

  • Demonetisation is aimed at reducing cash transactions to the lowest.
  • The government is promoting alternate forms of payment, through expanding use of credit cards, debit cards, mobile wallets and online banking.
  • Around 4.5 crore people buy fuel daily. Those, who would make purchases through cards and e-wallets, would be entitled to 0.75 percent discount.
  • The government is also going to provide 2 Point of Sale (POS) machines for free to every village where more than 8,000 people dwell. These machines would be accessible to around 75 crore people in the country.
  • Suburban trail passengers who will make digital payments for their tickets will be provided a 0.5 percent discount. The discount would come into effect from January 1, 2017.
  • The Railway passengers, who would purchase tickets online, will be provided an insurance cover of Rs 10 lakh.
  • Passengers, who will buy tickets online, will also get a 5 percent discount on accommodation, catering and retiring room at railway stations across the country.
  • On transactions of up to Rs 2,000, no service tax will be charged.
  • 10 percent discount for premiums paid for general insurance and 8 percent discount for life insurance if payment is made through online mode.
  • Government entities will not charge anything for digital payments.
  • Those who pay digitally and use Smart TAGs and RFID facilities at toll plazas on national highways will be entitled to a 10% discount.
  • Excessive cash raises the possibilities of malpractices and thus it is being discouraged. The shift to a less-cash economy has to be achieved.
  • All the cost of these discounts will be borne by the concerned institutions.
  • By just depositing money into the bank accounts will not change black into white. Concerned bodies are closely scrutinising such transactions and relevant tax will be imposed on it.
  • All misconducts will be dealt seriously according to the laws.

Shobhit Kalra

Shobhit Kalra

Writer has 10 years of experience in digital media. Presently working as Chief Sub Editor at newstrack.com. An avid reader and always willing to learn new things and techniques.

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