Prime Minister Narendra Modi, in his address📢 to the nation ahead of the 2017 New Year, has saluted the crores of citizens who have endured hardships in India's fight against corruption.
He also announced👏 2 schemes for houses for the poor under PM Awas Yojana. In 2017, for up to ₹9 lakh loan, 4 % discount will be given; For up to ₹12 lakh loan, there will be 3 % rebate. On ₹2 lakh of loan, 2% rebate will be given😌.
He also said that in the next 3 months, 3 crore 'Kisan credit cards💳' will be converted to Rupay cards. Anywhere farmers will have to use these cards. He also highlighted that rabi crop sowing and fertilizer use is up this time⬆.
Here are the excerpts from his speech:-
🔰 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.
🔰 We will try to take banks to normal situation as soon as possible🙏, especially in villages and remote areas. Banks have been informed about this.
🔰 What India has done is unprecedented in world history🌏. 500 and 1000 notes were being used more for parallel economy. In our economy there were mountains of notes. Inflation, black marketing was going up.
🔰 Yes, in some banks🏦 there have been serious faults. Shameless attempt to benefit has also come to light. They won't be spared. This is a golden opportunity for the banking system.
🔰 For medium enterprises🏭, we have decided to increase credit guarantee for them to 2 crore from 1 crore. NBFC loans will also be covered under this scheme. Govt has told banks that cash credit limit for small enterprises be increased to 25 % from 20 %.
🔰 For pregnant women👩, a new scheme is being started. ₹6000 will be credited to women's accounts for registration, delivery, vaccination, nutrition. To start with, only in 53 districts covered and only ₹4000 will be given.
🔰 New scheme for senior citizens - on up to ₹7.5 lakh deposit, yearly 8% interest for 10 years.
🔗The PM finished by mentioning Mahatma Gandhiji👓 - "In 1917, there was Gandhi's Champaran Satyagraha. After 100 years too, there is value for honesty in India.
🔗Today there is no Gandhi but his path is relevant. We will not let the fight for honesty stop. We have youth, ability, resources. Lets all come together and develop India."
Regards, CA Rahul Gupta
(Practicing Chartered Accountants)
M R T & Associates, Chartered Accountants
www.linkedin.com/in/cargupta
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