Highlights of the measures announced by FM @arunjaitley for ‘Promotion of Digital and Cashless Economy’. They are:
- Central Govt Petroleum PSU’s will offer discount at the rate of 0.75% of the sale price to consumers making payment through digital means.
- 1 lakh villages with the population less than 10000 will get two PoS machines each, free of cost supported through financial inclusion fund.
- Govt will support RRB’sand Cooperative Banks through NABARD to issue Rupay Kisan Cardsto 4.32 Crore Kisan Credit Card Holders.
- Sub Urban Railway Consumers making Digital Payment for monthly/seasonal tickets will get discount upto 0.5% from January 1 2017.
- All Railway Passengers buying online tickets will be given free accidental insurance cover of upto Rs 10 lakhs.
- Railway will also provide a discount of 5% for digital Payment of paid services e.g. catering, accommodation, retiring rooms etc offered through its affiliates.
- public Sector insurance Companies will provide incentive, by way of discount or credit upto 10% of the premium in general insurance policies and 8% in new life policies of life insurance corporation sold through the customer portals, if payment is made through digital means.
- Central Development Department and PSUs to ensure the transaction charges associated with the digital Payment shall not be passed onto the customers and all such expenses shall be borne by them. State Govts are also being advised to consider doing the same.
- PSBs are advised that merchants should not be required to pay more than Rs 100 as onthly rental for PoS terminals/micro ATM’s /Mobile PoS.
- No Service Tax will be charged on digital transaction upto Rs 2000 per Transaction.
- For Online Payments of toll Plazas on National Highways using RFID card/Fast tags, a discount of 10% will be available to the users in the year 2016-2017.
