Jaitley gives digital transaction bonanza
Mumbai – Union finance minister Arun Jaitley on Thursday made an important announcement exactly after a month of prime minister Narendra Modi’s surprising decision of demonetisation of high value currency notes. The Government of India has announced 11 measures to expedite the digital switchover, including discount facilities for online fuel, railway ticket, insurance purchases. Jaitley, while addressing a press conference in Delhi, even announced the facilities for commuters of local trains in Mumbai but no fixed dates were given in this regard.
Good news for Mumbaikars – 0.5% concession on online purchase of suburban train tickets, pass. This facility to start from January 1.
Insurance for online train ticket booking – Presently, 58% commuters book their train tickets online. Such commuters will be given insurance cover of Rs 10 lakhs.
Concession on other railway services – Railway’s catering, lodging, guestroom and other such services will attract 5% concession on online booking.
Fuel purchase cashless – 0.75% concession on fueling your vehicle by online transaction.
Online toll – Total 10% concession for online payment of toll tax. It will be for those who will transact through RFID card and fasttag facilities.
Insurance of PSU companies – Concessions to the purchasers of the LIC (8%) or GIC (10%) products.
RuPay card for Kisan Card holders – Currently, 4.32 crore farmers have Kisan Credit Cards. They will be given RuPay cards so that they can swipe or use it at ATMs.
Swipe machines in 1 lakh villages – Two swipe machines will be given free of cost in villages with over 10,000 population.
Transaction charges waived – No transaction charges will be levied on transactions with Central government’s PSUs.
Concession in swipe machine rent – Mobile payment service will not be more than Rs 100 per month. Currently, 6.5 lakh machines have been provided and will be given in future.
Concession in service tax for online transactions – No service tax will be charged on online transactions up to Rs 2,000.