PM Modi announces cheap home loan for poor & relief for farmers

NEW DELHI, DEC 31: Prime Minister Narendra Modi on Saturday announced a host of new schemes for various sections of society even as he urged the people to continue supporting the government in the fight against corruption and black money. In his televised address on the eve of New Year, his first since the surprise November 8 announcement, PM Modi offerered relief to the poor, middle class, small businesses, farmers, senior citizens and pregnant women. PM Modi set out a stern warning of tough action against the “dishonest” people even as he assuaged the honest people that the government will act as a friend to them so that their difficulties are eased.
Under the Pradhan Mantri Awaas Yojana, those belonging to the poor, lower middle and middle classes in cities will be eligible to four per cent discount on housing loans upto s 9 lakh. Loans of upto R 12 lakh will receive interest subvention of 3 per cent, PM Modi announced.
For the benefit of small traders, the credit guarantee scheme for small, medium and micro enterprises (SME) will be enhanced for loans up to s 2 crore.
“We have decided to enhance the credit guarantee scheme (credit guarantee fund for micro units development refinance agency or MUDRA) for small business so that they can access more funds to fulfil their growth potential,” the Prime Minister said in his address to the nation.
Highlighting the six per cent increase in sowing during the last season, Modi declared that the government will bear 60 days’ interest incurred on farmer loans. This amount will be directly transferred to the farmers’ bank accounts.
“In the last few weeks, an impression was sought to be created that agriculture sector has been destroyed. Farmers themselves have given a fitting reply to those who were doing so,” the Prime Minister said.
Furthermore, 3 crore farmers’ credit cards will be converted to RuPay cards in the next 3 months for ease of buying and selling at any time.
Nabard will be given an additional s 20,000 crore to finance district cooperative banks and societies..
For senior citizens, a new scheme assures an interest of 8% for 10 years on deposits up to s 7.5 lakh.
In order to further lower the pregnancy mortality rate, s 6,000 will be transferred into the accounts of pregnant women in 650 districts for vaccination and pre-natal care.
Praising the citizens for their patience and unstinting support during this 50-day period, PM Modi said, “We cannot allow this fight against black money or corruption to slow down.”Prime Minister Narendra Modi addressed the nation on New Year’s eve, 50 days after the demonetisation move. Here are the top quotes from his speech:

PM said:
* Fight against blackmoney and corruption should not be stopped.
* Demonetisation has caused deep infliction on blackmoney, terror, human traffickers and counterfeit currency
* Law will do its job on illegal wealth holders but government’s priority is that honest get protection & their difficulties are reduced
* Only 24 lakh people have declared their income of being over Rs 10 lakh
* I urge banks to take initiatives and launch schemes keeping in mind the poor and the middle class people
* Bank employees and authorities along with people have done exemplary work. Yes, there have been reports of a few indulging in corruption, these people won’t be spared.
* All concerned directed to restore normalcy in banking system, particularly in rural & far flung areas, to end difficulties of people
* Citizens have proved that for them truth & honesty are important despite inconveniences post demonetisation
* The way people have showed exemplary courage & patience, leaders like Ram Manohar Lohia,Lal Bahadur Shastri would have been proud of them.
* India has become a witness to a Shuddhikaran or purification drive
* The problems which the people have faced for the betterment of the country is an example in itself
* After Diwali, our country took an important decision to curb black money which will have long term benefits
Asks parents to save their children from straying towards terrorism
Prime Minister Narender Modi while addressing the Nation today said that the parents should keep a close watch on their respective children so that they should not go towards terrorism.
He said that the black money was the only responsible for terrorism, underworld and other illegal activities. Referring to the examples where naxalites have surrendered in a large number before the law enforcement agencies during recent past, he said that a large number of youth that was indulged in such unlawful activities have surrendered before the Government. He also referred to the incidents in Kashmir where large number of youth were indulged in stone pelting on security forces, have stopped the act of stone pelting after demonetization.
“The parents should keep a close watch on the children. After a number of steps taken by the Government, a big number of youths have changed their way and many of them have surrendered before the law enforcement agencies,” said Modi. (AGENCIES)