To promote cashless economy govt announces discount on online railway bookings, lowers rental on PoS

New Delhi: Finance Minister Arun Jaitley announced various discounts in order to promote digital and cashless economy on Sunday in the two-day long meeting of the GST Council.

In this meeting, the government has decided to provide two Point of Sale (PoS) machines free of cost in one lakh villages where the population is less than 10,000. The cost will be borne by the government through the Financial Inclusion Fund.

The government will support Regional Rural Banks and Cooperative Banks through National Bank for Agriculture and Rural Development (NABARD) to issue Rupay Kisan Cards to 4.32 crore Kisan Credit Card holders.It was also decided that all railway passengers buying online ticket will be given free accidental insurance cover of up to Rs. 10 lakh and railway would also provide a discount of five percent for digital payment of paid services like. catering, accommodation, retiring rooms etc. offered through its affiliates.Sub-urban railway consumers making digital payment for monthly/seasonal tickets will get discount up to 0.5 percent from January 1, 2017.

The government has asked the Public sector insurance companies to provide incentive, by way of discount or credit, up to 10 percent of the premium in general insurance policies and eight percent in new life policies of Life Insurance Corporation sold through the customer portals, if the payment is made through digital means.All the Central Government Departments and the PSUs have been ensure that transactions charges associated with digital payment shall not be passed on to the consumers and all such expenses shall be borne by them.

State Governments are also being advised to consider doing the same.A 10 percent discount will be available to users of Toll Plazas on National Highways using RFID card/Fast TagsFor online payment of toll at Toll Plazas on National Highways using RFID card/Fast Tags, a discount of 10 percent will be available to users in the year 2016-17.

With ANI Inputs