New Delhi: Prime Minister Narendra Modi announced several schemes for the Indians at his much awaited speech on Saturday.
The entire nation waited for PM Modi’s speech much more than waiting for midnight to greet new year. He announced concessions for housing both in the urban and rural sectors. He announced home loans for poor and middle class people upto Rs 9 lakh will get 4% exemption on interest and upto Rs 12 lakh will get 3 % exemption.
PM Modi announced that the credit cards of 3 crore farmers would be converted into Rupay cards in 3 months. The government would also bear 60 days interest on selected farm loans. The credit guarantee for small traders would be raised to Rs. 2 crore.
To call it a landmark scheme, PM Modi announced a credit of Rs. 6000 to all pregnant women in their bank accounts in an attempt to reduce child and woman mortality.
PM Modi announced scheme for senior citizens. For 10 years, upto 7.5 lakhs senior citizens will be capped at 8%, so that the lower deposit rates do not hurt.
PM Modi also said that Rabi crop sowing has gone up by 6%; fertilizer sales up 9% despite doomsday predictions by critics. Government to stand guarantee for loans up to Rs 2 crore from current Rs 1 crore, to small businesses.