Buying petrol, insurance via digital mode to be cheaper: FM Arun Jaitley

nline booking , nsurance and railway tickets, less-cash economy, petrol,
nline booking , nsurance and railway tickets, less-cash economy, petrol,

In a bid to promote less-cash economy, the government on Thursday announced a discount on an array of services from buying petrol to insurance and railway tickets through the digital mode and waived service tax on card transactions of up to Rs 2,000.

A discount of 0.75% will be offered on purchase of petrol and diesel through either credit/debit cards, e-wallets and mobile wallets.

Similarly, 10% and 8% discount will be offered in case of general and life insurance for buying the new policy or paying premium online via PSUs websites.

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Announcing 11 decisions to promote digital transactions, Finance Minister Arun Jaitley said that monthly and seasonal suburban railway tickets purchased through digital mode will get 0.5% discount from January 1.

Online booking of railway tickets will get Rs 10 lakh accident insurance. Those using digital mode to pay for railway catering, accommodation, the retiring room will be entitled to the discount of 5%.

Jaitley said that public dealings with government departments and PSUs through digital mode will be free of transaction fee and MDR charges.

Also, credit/debit card transactions up to Rs 2,000 will be exempt from service tax.

The minister further said 10% discount will be available on the use of digital mode for paying for RFID or fast-tags for highway toll.

“We were using an excessive amount of cash and the very limited amount of digital transactions till November 8,” he said, adding there is the cost of transacting in cash which has to be borne by the economy.

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