Cashless means less cash, not no cash: Jaitley

25 December, New Delhi

Stating that cashless is a significant option for the economy to grow, Finance Minister Arun Jaitley today said the government’s bid to go cashless means less cash not no cash.

At the launch of Digi Dhan Mela here, Jaitley said, ”Our bid to go cashless means less cash, not no cash. Now, the money has come into the banking system and the anonymity of cash has vanished.” On importance of Aadhar-based payment, the Minister said, ”Aadhar based payment is for people who don’t have cards or mobile phones, they only need thumb print for transactions.”

Jaitley along with Information and Technology Minister Ravi Shankar Prasad launched the first draw of the Lucky Grahak Yojana, which will enable a cashback of Rs 1,000 to 15,000 consumers every day for the next 100 days.

Winners will be selected on a daily and weekly basis under the Lucky Grahak Yojana and weekly basis under the Digi-Dhan Vyapar Yojana respectively, leading up to a mega draw on April 14, 2017, where after the scheme shall be reviewed for further implementation. Mr Jaitley added that the launch of lucky-draw scheme will go a long way in promoting digital transactions in the country.

“Such schemes were very popular and successful in South Korea. I can assure with such initiatives we will have a better nation, a better and cleaner economy in future,” he said.