More incentives for digital transactions
The government on Thursday announced a slew of discounts to persuade people to switch to digital modes of payment as shortage of cash continued with banks. It also waived service tax, now at 15%, on credit and debit card transactions of up to Rs 2,000. Petrol and diesel paid digitally will enjoy a rebate of 0.75%.
Finance Minister Arun Jaitley announced the discounts on Thursday, exactly a month after the government banned Rs 500 and Rs 1,000 notes. He said those who buy seasonal tickets on suburban railway networks will get a 0.5% discount, and those buying railway tickets online will get free accident insurance coverage for Rs 10 lakh. A 10% discount will be offered on new general insurance policies paid for through PSU websites. An 8% discount applies to life insurance. Railway catering, accommodation, and retiring room bookings online will get a 5% discount, Jaitley said.
“There is no end date for these offers. These are only some of the efforts the government is making to promote payment by credit, debit cards and e-wallets,” he said. Jaitley also said all transactions with government departments and PSUs will be free of transaction and merchant discount rate charges.
On national highways, which have witnessed commotion, digital payments will fetch you a 10% discount. Each village with a population of up to 10,000 will get two point-of-sale machines free of cost.
Source: www.deccanherald.com
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