Budget push for Digitization
Mumbai: Among the many other announcements made by the Finance minister, The budget has given incentives for ‘Digital Transactions’.
Some of the highlights-
1. Duty sops on various POS machines and IRIS readers to encourage digital payments.
2. Government considering option to amend Negotiable Instruments Act to ensure that holders of dishonoured cheques get payment.
3. Government doubles distribution target under Mudra Yojana to Rs 2.44 lakh crore for 2017-18.
4. Pradhan Mantri Mudra Yojana (PMMY) under the Micro Units Development and Refinance Agency (MUDRA) Bank is a new institution being set up by Government of India for development and refinancing activities relating to micro units.
5.Computer emergency response team to be set for cyber security of financial sector.
6. Digi Gain will be launched to promote tele-medicine and education.