As the 50-day timeframe for the exchanging of old currency notes came to a close on December 30, Prime Minister Narendra Modi on Saturday addressed the nation, announcing a slew of new schemes, including for housing loans, and urging people to go digital for monetary transactions.
Here is a gist of the schemes announced by the PM:
1. Rebate of 4% will be given on housing loans of up to Rs. 9 lakh, 3% rebate on loans of up to Rs. 12 lakh, 2% rebate on loans of up to Rs. 20 lakh.
2. Farmers will receive 60 days worth of interest credited to their accounts.
3. Three crore Kisan cards to be converted to Rupay debit cards.
4. Credit guarantee raised from Rs. 1 crore to Rs. 2 crore for loans taken by MSMEs.
5. Tax to be calculated at 6% for digital transactions to aid small scale businessmen.
6. Pregnant women will get Rs. 6,000 for registration, delivery, vaccination, nutrition. Initially, Rs. 4,000 will be credited and this measure will be provided across 53 districts.
7. Senior citizens will get 8% yearly interest for 10 years on deposits of up to Rs. 7.5 lakh.
Here are some other highlights from the PM's speech:
| >> 125 cr Indians have proved after Nov 8 how important truth and goodness is for them. How determination to be honest triumphs |
| >> Only 24 lakh people in India have declared that that their income is more than 10 lakh per annum. Will anyone accept this? See cars, bungalows. Lakhs of such people in each city. Should not the movement for honesty be further strengthened? |
| >> Hardship faced by Citizens will be a shining example of how foundation for a bright future is laid. This is a historic example of how govt and citizens are together fighting for truth and virtue |
| >> I know you stood in queues for hours for withdrawing your own money. I have received letters of determination and pain. You spoke as if I was your own. Your love is like a blessing for me. |
| >> Economists have a consensus that cash should be in mainstream of economy. If Shastri, Jaya Prakash Narayan, Ram Manohar Lohia, Kamaraj or other great leaders were alive, they would have blessed us. |
| >> The money that was outside the economic mainstream is back. Technology has helped. The corrupt will have to come to economic mainstream. |
| >> Let political parties not act holier than thou. Let us be transparent. There has been talk for simultaneous LS and Assembly polls. Now the time has come for a debate on this. |
| >> What will happen to the dishonest? Law will take its own course. Sternly. |
