Prime Minister Narendra Modi on Mann ki Baat: Go cashless, get cashback

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Prime Minister Narendra Modi Sunday announced the launch of two schemes — Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana. For the next 100 days, starting today, 15,000 people making digital payments will get Rs 1,000 cashback in a daily lucky draw, PM Modi said. He added that there will also be a weekly draw and the prize money will run into lakhs. “A bumper draw will be held on BR Ambedkar’s birthday,” PM Modi said. Under the two schemes, the lucky draw will take place in 100 cities across the country. Traders adopting digital payment methods will get a tax rebate under the Digi-Dhan Vyapar Yojana scheme.

The prime minister was speaking in his monthly radio address to the nation ‘Mann ki Baat’. The prime minister also elucidated why RBI has been frequently updating and issuing fresh guidelines. “Government is taking regular feedback from people and it is alright to make changes according to it ,” he said.

He also said that out of the 30 crore debit/credit cards in the country, 20 crore of these are held by those belonging to lower and middle-income background. “In last few days, cashless transactions have gone up by 200-300 per cent. To give it a push, government has taken a big step,” he said.

Exemplifying the benefits of cashless transactions, PM Modi asserted that they will help in ending the exploitation faced by workers in the informal sector. “In our country, the informal sector is quite big and most of the workers are paid their wages in form of cash. They also face exploitation because of this. Now digital transactions are helping these workers,” said PM Modi.

Speaking on why political parties will not come under the scrutiny of tax authorities for cash deposits in demonetised currency, PM Modi said that he wanted a discussion in Parliament regarding party funding, but the Opposition “did not let the Houses run”. “People are spreading rumours that political parties have free hand but this is not true,” PM Modi said.