NaMo’s Loan Dhamaka Encourages Rural India

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New Delhi: Prime Minister Narendra Modi announced a slew measures for farmers, urban poor and small entrepreneurs besides housing loan subsidies for the poor and new incentives for senior citizens.

 Modi Gives New Year Gifts To Rural India. He said on speech that Government to bear 60 days interest on farm loans taken from District Cooperative Central Bank. Small scale and medium enterprises play important role in increasing job opportunities. Credit guarantees by government increased to Rs 2 crore.  In next months, three crore Kisan Credit Cards to be converted to RUPAY card. In 2017, if poor people want to expand their homes, they will be given Rs 2 lakh at an interest rate of 3 per cent less than normal.

In a much-anticipated televised address to the nation, Modi thanked the people of India for standing shoulder-to-shoulder with the government in the fight against blackmoney and fake notes by supporting the demonetization drive despite hardships.

“The days that followed this Diwali, people of India witnessed a cleansing ritual of historic proportions. This black money cleansing ritual will help the nation,” he began the speech.

This is one instant where the people of the country have joined shoulders to shoulders of the government to fight it out, he said.

 “The problems which the people have faced for the betterment of the country are an example in itself. I know you had to stand in lines for hours to take out your own money. I have got thousands of letters on this. People have shared their resolve as well as their pain. Your love is like a blessing. In the New Year, we will try to get banks to normalcy as soon as possible,” he said.

Demonetization has hit all activities dependent on blackmoney hard: like smuggling, terror, human trafficking, he said, adding that incidents in the scent few days show that those trying to be hoodwink the system have reached a dead end.

 “Bank employees worked hard making days into night. Lakhs of women employees stayed back late to make this a success. So are the staffs in post offices. Yes, there were some who committed crimes. Whoever tries to exploit the situation, they won’t be pardoned, he said.

 “For the banking system, this is a golden opportunity. Banks never had it soon rich in coffers. Banks will now have to help the poor, lower middle class and middle class and plan their strategies,” the PM said.

“How long will we run away from the truth? You will be surprised that there only 24 lakh has accepted their income is above Rs 10 lakh. Look around you, big cars, big houses. Look at the metros, you will find lakhs of lakhs of rich people,” the PM said.

Modi observed that that in the past few days, ever since the demonetization drive of November 8, an impression has been created that the farm sector has been destroyed. But on the contrary the farmers have given a befitting reply to the sceptics by clocking an increase of 6% in the rabi sowing season, the PM said.

 

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