Pay online to pay less, says Finance minister

As per the announcements, petrol, diesel, rail tickets, other railway services, insurance (both general and life insurance), and toll on national highways will also be cheaper in case you are paying through digital modes.  Union Finance Minister Arun Jaitley announced that all railway passengers buying online tickets shall be given free accidental insurance cover of up to Rs 10-lakh. This benefit will not apply to those buying tickets from counters by paying cash. Nearly 14lakh railway passengers are buying tickets everyday out of which 58 percent tickets are bought online through digital means. It is expected that another 20 percent passengers may shift to digital payment methods of buying railway tickets. 

Jaitley said for paid services such as catering, accommodation and retiring rooms being offered by railways through its affiliated entities/corporations to passengers, it will provide a discount of 5 per cent for payment of these services through digital means. All the passengers travelling on railways availing these services may avail the benefit. 

The Finance Minister announced that the Railway through its sub-urban railway network shall provide incentive by way of discount up to 0.5 percent to customers for monthly or seasonal tickets from January 1, 2017, if payment is made through digital means. 

Jaitley also announced that the Central Government Petroleum PSUs shall give incentive by offering a discount at the rate of 0.75 percent of the sale price to consumers on purchase of petrol/diesel if payment is made through digital means. 

Arun Jaitley said, “In the month of November 2016 it has increased to 40 per cent and the cash transaction of Rs 360-crore a day have got shifted to cashless transaction methods. The incentive scheme has the potential of shifting at least 30 percent more customer to digital means.