Government launches incentive schemes to popularise digital payments
According reports, the government will have two schemes, one for the consumer and another for the merchant.
The Lucky Grahak will be for consumers and the Digi Dhan Vyapari Yojana for the merchant, said Kant.
There will be daily, weekly and mega awards upto Rs. 1 crore for consumers and merchants using digital payments.
Both schemes will cover small transactions between Rs.50 and Rs.3000 to encourage every section of the society.
There will be 7000 weekly awards, max award of Rs. 50,000 each for merchants, under the Digi Dhan Vyapari Yojana.
The estimated expenditure for the scheme to incentivise digital payments will be Rs 340 crores, said Kant.
"Our focus is on poor,middle class and merchants, whom we want to start using digital payments," said NITI Aayog CEO.
Amitabh Kant said that India has a very low tax base and there is huge potential for formal economy.
He also said that the government cannot allow a parallel economy to function.
Kant said that currently only five per cent of personal expenditure in India is conducted digitally.
NITI Aayog CEO said that there has been a spurt in digital payments since the demonetisation scheme was declared by Prime Minister Narendra Modi on Nov 8 and there is scope to push for increased use of digital payments.
Images: NITI Aayog Twitter
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