Budget 2017: 7 measures to enable digital economy

1. Aadhar Pay, a merchant version of Aadhaar-enabled payment system , will be launched shortly for those without debit cards, mobile phones or e-wallets.

2. On the recommendation of a Special Investigation Team on Black Money, finance minister Arun Jaitley announced that no transaction above Rs 3 lakh will be permitted in cash .

3. The government will launch two new schemes to promote the use of BHIM. These are referral bonus schemes for individuals and cashless schemes for merchants.

4. A mission will be set up with a target of over 2,500 crore

digital transactions

for 2017-18 through UPI,

USSD

, Aadhaar Pay, IMPS and debit cards.

5. To promote cashless transactions , the government decided to remove all duties on point of sale devices, finger print readers and similar devices.

6. Banks have targeted to introduce additional 10 lakh Point-of-Sale terminals by March 2017.

7. Political parties will be entitled to receive donations by cheque or in the digital mode from their donors .













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