With the govt providing discounts in some areas to push digitisation, consumers should try and maximise benefits
The government, a month after implementation of demonetisation, has decided to give a push to digitisation. On Thursday, Finance Minister Arun Jaitley announced a slew of incentives for people willing to transact digitally.
Making digital payment on fuel purchases from petrol pumps will be cheaper by 0.75 per cent. New policies bought from customer service portals of Life Insurance Corporation (LIC) and public sector general insurance companies will attract a discount of eight per cent and 10 per cent, respectively.
Making digital payment on fuel purchases from petrol pumps will be cheaper by 0.75 per cent. New policies bought from customer service portals of Life Insurance Corporation (LIC) and public sector general insurance companies will attract a discount of eight per cent and 10 per cent, respectively.
There are a number of other transactions as well on which the government has decided to give discounts, provided one is willing to take the cashless route. Says Madan Sabnavis, chief economist, CARE: “The government is almost following a placatory approach with these incentives, after almost forcing people to go digital in the first month. This is a good approach, as it makes people more comfortable.”
Some petrol pumps charge two per cent on credit cards, a deterrent for many people. Now, with the government giving a discount, many will be encouraged to use cards. “However, to encourage the use of digital payment more aggressively, I believe, the government should give such incentives in many other areas,” added Sabnavis.
Some petrol pumps charge two per cent on credit cards, a deterrent for many people. Now, with the government giving a discount, many will be encouraged to use cards. “However, to encourage the use of digital payment more aggressively, I believe, the government should give such incentives in many other areas,” added Sabnavis.
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