Smartphones to get cheaper


New Delhi:  In order to promote electronic and cashless transactions post demonetisation, the government has decided to propose some new steps in the upcoming budget as it looks to reduce tax for electronics like smartphones, laptops and also weekly draws for people who making digital payments.

For that NITI Aayog has asked National Payments Corporation of India(NPCI) to launch an award scheme to incentivise people using digital payment mode of payments through weekly and quarterly lucky draws with an annual budget of Rs. 125 crore.

NPCI is charged with a responsibility of guiding India towards being a cashless society. All consumers and merchants using digital payments will be eligible for the award scheme.

Two levels of incentive amounts will be available under the scheme. First, weekly lucky draw of the transaction IDs generated in that week. The contours of which are being finalised, it said.

NITI Aayog has also proposed quarterly draw for grand prizes and asked NPCI to focus on poor, lower middle class and small businesses while designing the scheme.

All modes of digital payments – USSD, AEPS, UPI and RuPay Cards – will be eligible under the scheme. For merchants, transactions made on the point of sale (POS) machines installed at their locations would be considered, it added.

As a result smartphones will get cheaper and banks will fianace poor people to buy personal computer. Now 5 crore smart phone have been used in country.

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