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Arun Jaitley’s Demonetisation sops: What’s in it for the public? 5 power points

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Fri December 09 2016, 4:30 pm
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    In wake of completion of one month of demonetisation decision, Finance Minister Arun Jaitley addressed media yesterday, and in a significant speech he announced a slew of measures, including discounts on digital payments that includes purchase of petrol, railway ticket and insurance policies, to incentivise cashless payments, boosting demonetisation dividend as much as possible. In short, if you make payment through the digital mode (e-payment), a number of services that the government delivers will become cheaper. The announcement aimed to encourage people to pay digitally, through which one can avail discounts on purchase of fuel, railway services as also for payment of highway tolls and insurance premiums. Here are 5 power points for public to take note of: (ANI)

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    1. A discount of  0.75% will be awarded on digital purchase of petrol and diesel at PSU retailers’ outlets. (Indian Express)

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    2. It's good news for nearly 80 lakh commuters using suburban railway networks is that they will be able to avail 0.5% discount on monthly/seasonal tickets purchased via debit/credit cards or online payment. (Indian Express)

  • According to the Indian Express, the corporators had earlier demanded a payment waiver at all toll plazas across the state. (Indian Express)

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    4. Not only that, public sector general insurance companies would give up to 10% discount/credit on premiums if a new policy is purchased from customer portals of state-run general insurers. Also, settlement services rendered by banks for any single transaction up to Rs 2,000 will be exempt from tax if the payment is done via non-cash means. (Indian Express)

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    5. Public sector banks were also advised that merchants not be charged more than Rs 100 per month as rental for PoS terminals/micro ATMs/mobile PoS. (Indian Express)

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