Discounts on digital payments of toll, petrol, insurance: Jaitley

Online insurance premium payment to state companies will also be provided with a discount, Jaitley added.

Toll payments that will be made via the digital mode can also look forward to a 10% discount, the Finance Minister added.

In order to promote digital payments and substitute cash with digital payments Jaitley said that government along with banks are trying to push digital payments and noticeable changes are being observed in consumer behaviour with regard to e-payments.

Nearly 40% payments at fuel outlets were switched over to digital payments, Jaitley said.

Jaitley announced that the government will also provide a 0.75% discount to those paying digitally at petrol pumps.

Speaking on the effort to demonetise higher denomination, Jaitley said that the government is distributing cash as per predetermined plan.

Jaitley said that India wants to fasten the switch over to digital payments.

Jaitley said, "The Central Government through NABARD will also support Rural Regional Banks and Cooperative Banks to issue “Rupay Kisan Cards” to 4.32 crore Kisan Credit Card holders to enable them to make digital transactions at POS machines/Micro ATMs/ATMs."

"To expand digital payment infrastructure in rural areas, the Central Government through NABARD will extend financial support to eligible banks for deployment of 2 POS devices each in 1 Lakh villages with population of less than 10,000.  These POS machines are intended to be deployed at primary cooperative societies/milk societies/agricultural input dealers to facilitate agri-related transactions through digital means," Jaitley added.