Modi Unveils Schemes for Housing Loans, Farmers & Pregnant Women
The PM unveiled housing schemes for the poor and the middle class, as well as initiatives for senior citizens.
- PM Modi addressed the nation at 7:30 PM on New Year’s Eve
- He announced housing schemes for the poor and the middle class
- The schemes include decreased interest rates for housing loans
- He also announced schemes for farmers, pregnant women and senior citizens
- The speech also focused on MSMEs and assitance
- It comes a day after the deadline to deposit scrapped notes expired
Modi Addressed the Nation on 31 December
Prime Minister Narendra Modi began his address to the nation on 31 December, a day after the 50-day period to deposit demonetised notes expired.
Lauding the country for the manner in which it embraced demonetisation, Prime Minister Modi said:
While calling India’s response to demonetisation unparalleled, Modi spoke about the existence of black money in the nation.
Only 24 Lakh People Accept Their Annual Income is Over Rs 10 Lakh: Modi
He also added that only 24 lakh people in the country admit that their annual income is above Rs 10 lakh.
He also spoke of how black money funds terrorist activities:
Additionally, the addressed primarily focused on introducing new features pertaining to housing schemes, farmers, pregnant women, MSME and senior citizens.
New Housing Schemes Announced
PM Modi announced new housing schemes for the poor and the middle class, along with a decreased rate of interest on housing loans for them.
He also unveiled new provisions of the PM Awas Yojana.
Relief for Farmers
The address also ushered in relief for farmers.
The PM also spoke of empowering farmers with RuPay cards.
As for micro, small and medium enterprises (MSME), Modi said:
Banks have been asked to raise cash credit limit for small business to 25 percent from 20 percent, he added.
Assistance for Pregnant Women
The speech also touched upon the aid to be provided to pregnant women in the country.
Assistance for Senior Citizens
A significant portion of India’s population consists of senior citizens, Modi said. He added that the government is also working on offering schemes for them. Thus, there has been an increase in the interest rate in large amounts of money they deposit in their accounts, thereby leading to an increase in their annual returns on the amount.
The address concluded with Modi talking about achieving transparency in political funding, conducting simultaneous elections in India and marking the hundredth anniversary of the Champaran satyagrah in 2017.
PM Modi also spoke about pursuing the path of truth and referred to leaders like Lal Bahadur Shastri, Ram Manohar Lohia, K Kamraj, Deendayal Upadhyaya and Mahatma Gandhi.
No Campaign Launched
According to sources, the Prime Minister was also likely to roll out a massive campaign on New Year’s Eve. All ministers had been asked to visit at least 10 places and hold rallies and mass contact events. Also, a sixty-page document had been distributed to all ministers by the Finance Ministry, describing each aspect of demonetisation point by point.
No Post-Demonetisation Roadmap Unveiled by PM
In his address, the Prime Minister was also expected to speak about the roadmap post demonetisation. Many expected him to elaborate on the steps that would be taken to ease the cash flow that had posed a problem ever since the 8 November note ban announcement.
During his recent public meetings, the Prime Minister had been urging people to bear with the pain following the government's decision. He assured people that their troubles would begin to ease after the 50-day period.
On Tuesday, PM Modi chaired a meeting of economists, officials and members of the Niti Aayog to take stock of the current economic situation.
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