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Post Demonetization, Govt. announces benefits on E-Payments!

Updated on: 09 Aug, 2023 11:35 AM

Finance Minister Arun Jaitley today put forward a plethora of benefits for promoting the use of digital payments which are as follows:

*Petrol/diesel cheaper for those who pay by digital mode, to get 0.75 per cent Discount .

* NABARD will give Rupay card to people who have Kisan Credit Card.

* People buying monthly seasonal tickets in the Suburban railway networks through digital payment mode, to get 0.5 per cent discount (This measure, he said, will be effective from January 1 next year, and the Mumbai suburban railways will be the first to implement it?)

* People booking Railway tickets online will get Rs 10 lakh accidental insurance free and people opting for Railway facilities like retiring room, catering etc. will get 5 per cent discount if paying through digital mode.

* 10 per cent and 8 per cent discounts will be offered in the case of general and life insurance, for buying new policies or paying premiums online through Public Sector Undertaking (PSU) websites.

* Centre to expedite digital switchover; 2 POS machines will be given to villages with 10,000 population, 1 lakh villages to be selected.

* 10 per cent off on paying in digital mode at toll plazas.

This has come as a breath of fresh air after exactly one month post demonetization.

CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.