Paying digitally? You can earn a government prize of Rs 1 crore
The government, which is trying to move towards a “less cash” economy, has announced mega cash awards – Lucky Grahak Yojana and Digi Dhan Vyapar -- for both consumers and merchants who adopt digital payment modes.business Updated: Dec 16, 2016 10:12 IST
The government, which is trying to move towards a “less cash” economy, has announced mega cash awards – Lucky Grahak Yojana and Digi Dhan Vyapar -- for both consumers and merchants who adopt digital payment modes. The exercise will cost the government around R340 crore.
The schemes will be launched on Christmas (December 25) and cover transactions between R50 and R3,000.
Niti Aayog CEO Amitabh Kant, who called it a ‘Christmas Gift’ said the first draw will take place on December 25, while the mega draw will be on April 14-- the birth anniversary of B R Ambedkar.
“The focus of Lucky Grahak and Digi Dhan Yojana is on poor, middle class and small businesses, to make them a part of the digital payments revolution,” Kant said.
As many as 15,000 winners will receive R1,000 each and the names will be announced by the National Payment Corporation of India (NPCI) for 100 days starting December 25. Besides, there will be 7,000 weekly awards with the maximum award of R50,000 each for merchants under the Digi Dhan Vyapari Yojna.
For consumers, there will mega awards of R1 crore, R50 lakh and R25 lakh. In case of merchants, it has been fixed at R50 lakh, R25 lakh and R5 lakh. All these awards will be announced on April 14.
The government has already announced other measures to promote electronic payment. On December 8, finance minister Arun Jaitley announced a hots of incentives, ranging from discounts on fuel and railway tickets to free insurance cover for those using digital payment modes. Petrol and diesel was made cheaper by 0.75% and monthly and seasonal tickets on sub-urban railway by 0.5% for people using plastic money or e-wallets. Public sector insurance companies, both general and life, will offer discounts to customers opting to buy products directly from the portals-- 10% discount for general insurance products and 8% on life products.