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PM's New Year gift: Schemes for poor, farmers, traders, pregnant women and senior citizens

In Perhaps The Most Awaited Nation's Address, Prime Minister Narendra Modi On Saturday Announced A String Of Schemes For The Public In The Form Of Interest Rate Cuts, Financial Aid And Credit Limits. The Primary List Of Beneficiaries In PM Modi's New Year Gift Kitty Includes Farmers, Traders, Pregnant Women And Senior Citizens.

News Nation Bureau | Edited By : Arshi Aggarwal | Updated on: 31 Dec 2016, 10:05:01 PM

New Delhi:

In perhaps the most awaited nation's address, Prime Minister Narendra Modi on Saturday announced a string of schemes for the public in the form of interest rate cuts, financial aid and credit limits. The primary list of beneficiaries in PM Modi's New Year gift kitty includes farmers, traders, pregnant women and senior citizens. 

PM Modi on Saturday addressed the nation as the day marked the end of demonstration window he requested in his previous address on November 8 when he announced the ban on the 86 per cent of Indian currency in the form of old notes of Rs 500 and Rs 1,000. 

Earlier, it was being speculated that PM Modi will announce some tough decisions on Benami Properties. On the contrary, he announced a slew of sops for every strata of society. 

Here is the list of sops and schemes announced by PM Narendra Modi on December 31: 

1. Housing loan for lower and middle-income groups: 

#On the eve of the new year, Government is bringing some new programmes for the people: PM

#Loans of up to 9 lakh rupees taken in 2017 will receive interest subvention of 4 per cent: PM

#Loans of up to 12 lakh rupees taken in 2017 will receive interest subvention of 3 per cent: PM

#The number of houses being built for the poor, under the Pradhan Mantri Awaas Yojana in rural areas, is being increased by 33 per cent: PM

#Loans of up to 2 lakh rupees taken in 2017 for new housing, or extension of housing in rural areas will receive an interest subvention of 3 per cent: PM

2. RuPay Credit Card for farmers: 

#3 crore farmers who have Kisan Credit Cards, will be given RuPay debit cards within three months: PM

3. NABARD loans: 

#Govt to bear interest worth 60 days on farmers loans drawn from district cooperative central bank and primary society: PM

#NABARD created a fund of Rs 21000 crore last month, now Govt is adding Rs 20,000 crore more to this: PM

#The loss that NABARD suffered by giving loans to Coop banks and societies at low-interest rate shall be borne by GoI: PM

4. Bank credit limit:

#Banks have been asked to raise cash credit limit to small business to 25% from 20%: PM Modi

#Banks have also been asked to increase working capital loans from 20% of turnover to 30% for enterprises that transact digitally: PM Modi

5. Sops for senior citizens: 

#8% interest on all FDs up to 7.5 lakhs for 10 years for senior citizens, interest can be availed monthly: PM

6. Financial aid for pregnant women: 

#Pregnant women to get financial aid of Rs 6000 in bank accounts for hospital registration, immunisation and delivery: PM Modi

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First Published : 31 Dec 2016, 08:23:00 PM