BREAKING! Major announcement by Finance Minister Arun Jaitley


Finance Minister Arun Jaitley declared a huge number of measures on Thursday to advance cashless exchanges, including discount on the buy of rail tickets, insurance policies and petroleum items utilising plastic cash or e-wallets.

Following are the major announcement made by Finance Minister Arun Jaitley while briefing media:

1. The point of demonetization is to diminish money exchanges however much as could reasonably be expected.

2. The government is empowering interchange types of instalment. It plans to push and actualize the utilisation of credit cards, debit cards, mobile wallets, and internet banking.


3. Around 4.5 crore buyers buy fuel each day. For those utilising cards and e-wallets, Petrol and Diesel buys will now pull in a 0.75% markdown.

4. The government will give 2 POS or Point of Sale machines for free to every village that has a populace of more than 8,000.

5. Around 75 crore individuals will access these machines.

6. Suburban train travellers who pay digitally for their tickets will get a 0.5% discount. This discount will be appropriate from January 1, 2017.

7. Railways travellers who buy tickets online will be qualified for an insurance coverage of Rs. 10 Lakhs for free.

8. Travellers buying tickets online will likewise get a 5% discount on convenience, cooking and retiring room at Railway Stations.

9. No service tax will be charged on exchanges of to Rs. 2,000 if a card is utilised.

10. Individuals paying general insurance premiums will get a 10% discount and 8% discount for extra security if the instalment is made on the web.

11. Government bodies won’t charge an exchange expense for advanced instalments.

12. People who pay digitally and utilise Smart TAGs and RFID facilities at the toll plaza on national expressways will get a 10% rebate.

13. Excessive cash can likewise prompt to acts of neglect, and in this way, it is being disheartened. The move to a ‘less-money’ economy must be accomplished.

14. The cost of these discounts will be borne by the concerned establishments.

15. Managing in cash brings its own particular expenses and weights, so this will be a much-needed development.

16. Simply saving cash into ledgers won’t change black to white. Every one of these exchanges will be nearly investigated and a tax will be forced to it.