Further pushing forward the government’s dream to achieve a cashless economy, Finance Minister Arun Jaitley on Thursday offered a slew of discounts to promote digital payment system in the country.

Addressing the media in New Delhi after one month of PM Modi’s demonetisation move, Jaitley said, transitory pain is regrettable but the move will lead to a cleaner economy and better GDP growth in the long run.

Here are all the major announcements:

  • Petrol and diesel will be cheaper for those who pay by digital mode, will get 0.75% discount
  • 5% discount on digital payment mode for railway facilities like catering, retiring rooms.
  • People buying monthly seasonal tickets in suburban railway networks through digital payment mode would get 0.5% discount.  
b’Source: PTI’
  • All railway passengers who buy tickets online will get free accident insurance cover worth Rs 10 lakh.
  • NABARD will give Rupay card to people who have Kisan credit card.
  • No service tax will be charged on transactions of up to Rs. 2,000 if a card is used.
  • People paying general insurance premiums will get a 10% discount and 8% discount for life insurance if the payment is made online.
  • People who pay digitally, and use Smart TAGs and RFID facilities at toll plazas on national highways will get a 10% discount.
  • Villages with a population of up to 10,000 will get 2 Point of Sale machines free of cost and one lakh villages will be selected for this scheme of availing free Point of Sales machine.
  • 8% discount for those availing life insurance policy directly through customer portals of public sector insurance companies.

(With PTI and ANI inputs)