Card payment may become mandatory for 5-star hotel bills
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Finance Minister Paying hotel bills beyond certain limits through debit or credit card would enable the government to keep a track on an individual’s spending. This process is followed by many European countries for the same reason.
An ET report revealed that Jaitley, as per Special Investigative Team’s (SIT) suggestion on black money, wants to incentivise credit and debit card transactions and discourage cash transactions for high value payments.
"Several things are under consideration, for example incentivising banks ... you know there are transaction costs which government can perhaps share. But there are also otherwise, you know what I would say to disincentivise cash transaction, any expenditure by a person in a five star hotel above Rs 5,000 have to be settled using credit card, there can be also decisions like that," finance secretary
The
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While SIT’s suggestions also include confiscation of cash by private individual beyond certain limit, it has also asked the government to ensure that small cash transactions made by mass don’t get affected in this process.
(Image: Reuters)
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