Union Cabinet has given its approval for introduction of steps for promotion of payments through cards and digital means. The move is aimed at reducing cash transactions. AIR correspondent reports that several short term and medium term measures have been approved for implementation by the Government Ministries, Departments and Organisations. <br/><br/>The infrastructure of card and digital payments is growing, but remains modest in comparison to cash payments. Promotion of payments through cards and digital means will be instrumental in reducing tax avoidance and migration of Government payments and collections to cashless mode. The essential features of the proposals include steps for withdrawal of surcharge, service charge, convenience fee on card or digital payments currently imposed by various Government organisations and introduction of appropriate acceptance infrastructure in Government organisations.<br/><br/>The Cabinet also gave its approval for signing of an agreement between India and Maldives for the avoidance of double taxation of income from international air transport. Under the agreement, profits from the operation of aircraft in international traffic will be taxed in one country alone. Cabinet also gave its nod for the proposal of the Ministry of Shipping for provision and operationalization of credit of 150 million dollars from EXIM Bank for development of Chabahar Port in Iran. <br/><br/><br/>The Port will help in expanding maritime commerce in the region. The Cabinet gave its approval for establishment of Atal Innovation Mission and Self Employment and Talent Utilisation in NITI Aayog with appropriate manpower. This will be a focal point for innovation and entrepreneurship in the country.
News On AIR | February 25, 2016 7:57 AM
Cabinet approves removal of surcharge, service charge and convenience fee on card and digital payments