Prime Minister Narendra Modi since the day he announced the Demonetization is pushing the country towards Cashless transactions. But then the Central government is put between Greed and ambition. The government is charging 1% transaction fees on every transaction made via card.
Petrol Pump Owners are losing big amount due to this 1% charge. The deals are of the opinion that the levy of 1 percent transaction fee erodes into their margins which are based on volumes. The central government had given 0.75% incentive for customers but is not waiving off the charge for the dealers.
The Petrol Pump Owners across the country are planning not to allow Card Transactions from today across the country until the transaction fee is not waived off. It has to be seen if the government gives up the greed for extra income in a bid for its ambitious less cash economy.