Indian government to strengthen digital revolution, launches two more schemes to support BHIM app

India Finance Minister Arun Jaitley in its 2017-18 Union Budget Wednesday announced that the to strengthen digital revolution in the country government will launch two more schemes to support BHIM app.

"Nearly 125 lakh people have adopted the BHIM app. Government will launch two new schemes -- a referral bonus for consumers and a cash-back scheme for merchants -- to promote the use of BHIM," Jaitely said while presenting the Union Budget 2017-18 in the Lok Sabha, reported Economic Times.

On the other hand, Indian Finance Minster Arun Jaitley in its 2017-18 Union Budget targeted fiscal deficit at 3.2 percent of GDP for 2017-18 and the 3 percent for 2018-19, rising probability for higher sovereign rating.

This moved come as the government of India (GoI) has been under pressure to reduce its fiscal deficit from the ratings agencies like Standard & Poor's which have refused to upgrade India's ratings demanding reduction in government's debt, reported NDTV