The central Government of India has announced a slew of measures for systemic adoption of digital / plastic currency. The benefits accorded to digital transactions and benefits perceived by the government are as follows,
- Discount of 0.75% on digital payments at central government petroleum PSUs – Will benefit 45mn customers at petrol pumps everyday. The incentive can shift 30% of customers to digital payments. Reduce cash requirement by Rs 2tn at petrol pumps every year.
- No service tax on digital