Budget muted on UPI, RuPay debit card incentives; sops down by 78%

The Union Budget for 2025-26 on Friday slashed by 78 per cent a government financial incentive to promote small value Unified Payments Interface (UPI) and RuPay debit card transactions.

The Budget earmarked Rs 437 crore to promote such transactions in financial year 2026 (FY26), compared to Rs 2,000 crore allocated the year before.