'Christmas gift to remember': Modi on schemes for digital transactions

New Delhi: "A Christmas gift to remember," said Prime Minister Narendra Modi on Thursday while referring to the two schemes - 'Lucky Grahak Yojana' and 'Digi Dhan Vyapar Yojana' - launched earlier in the day to encourage cashless transactions.

"These 2 schemes will further incentivise digital payments," he tweeted along with the advertisements of the new initiatives.

"Strategic push towards increased cashless transactions.... A big boost to move towards cashless and corruption free India. Two new schemes launched," said the PM in a number of tweets.

Earlier, announcing 'Lucky Grahak Yojana' and 'Digi Dhan Vyapar Yojana', NITI Aayog CEO Amitabh Kant said both the schemes will cover small transactions between Rs. 50 and Rs. 3,000 to encourage every section of the society to move to digital payments.

To promote digital payments post demonetisation, the government will give daily, weekly and mega cash awards totalling Rs. 340 crore for consumers as well as merchants beginning the Christmas Day.

Kant said the first draw will happen on December 25 and the mega draw on April 14, the birth anniversary of B R Ambedkar.

Later, at an interaction with a group of scholars and economists, the Prime Minister underlined India's commitment to prudent macro-economic policy, rule-based multilateral trading arrangements, responsible climate policy, and growth which creates jobs and reduces poverty.

The discussion focused on areas such as macro-economy, trade, monetary policy, competitiveness, productivity and energy, with ideas from global research, the PMO said.

Modi mentioned in detail, various steps taken by the Union Government to boost agricultural productivity, and the attention being given to renewable energy, he said.