BENGALURU: With an aim to boost the financial status of the country, the honorable finance minister Arun Jaitley had proposed many reforms and other important decisions in the Budget session this year. He has announced that the government is likely to provide with incentives to encourage card usage by the customer instead of transactions in cash.

This decision would be a good move to promote the use of plastic money by stepping towards a cashless India. NDTV.com has revealed the benefits of cashless transactions:

1. Controlling Black Money: With an aim to curb the flow of black money into the system, the government is trying to step towards a cashless India by discouraging transaction in cash.  The finance minister has proposed to introduce several measures to incentivize credit and debit card transactions and disincentivize cash transaction very soon.

This will ensure people especially urban citizens to have access to use their credit or debit cards. Even people can use RuPay debit cards initiated by the government, which will support card users in the nation.

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