On December 31, Prime Minister Narendra Modi addressed the nation and announced various schemes by focusing on Poor and middle class including farmers, small businessmen, senior citizens and pregnant women.
Prime Minister also said during his speech that government would soon bring the normalcy of banking system.
Here are the highlights of the speech made by Prime Minister Narendra Modi.
Two new housing schemes have been launched for poor and middle class people under “PM Awaas Yojna”. Home loans for up to Rs 9 lakh will get 4% exemption on interest and loans up to Rs 12 lakh will get 3 % exemption.
In upcoming three months, 3 crore Kisan credit cards will be converted into RuPay cards.
For basic initial necessities and medications Rs 6,000 will be given to the pregnant women in their bank accounts across the country.
For senior citizens, deposits upto Rs 7.5 lakh will receive 8 % interest rate for 10 years.
Banks have been instructed to increase their cash credit limit to small businesses from 20% to 25%.
The credit guarantee for micro, small and medium enterprises will be increased up to Rs 2 crore from Rs 1 crore.