Schemes announced by PM Modi on New Year's eve

Modi in a national address on Saturday night launched schemes for farmers, Ministry of Micro, Small and Medium Enterprises, new mothers and senior citizens.

Published: 31st December 2016 08:45 PM  |   Last Updated: 31st December 2016 09:42 PM   |  A+A-

By Online Desk

Modi in a national address on Saturday night launched schemes for farmers, Ministry of Micro, Small and Medium Enterprises, new mothers and senior citizens. While appreciating the fellow countrymen on the ways in which demonetisation has shaped, PM Modi in his speech said the following:

  • The Government will take care of interest for 60 days for farmers who had taken loans from district coop, central bank. He said Rs 20,000 crore in NABARD fund will give loans to farmers. In 3 months, almost 3 crore Kisan Credit Cards will be transformed to RuPay credit cards. With these they will be able to sell and buy at any place, and will not have to visit banks to withdraw money.
  • Just like agriculture, MSMEs are also important, for which the government has launched special initiatives. For small entrepreneurs, credit guarantee raised from 1 crore to 2 crore. Loans taken by non-banking financial companies will also be covered in this.
  • Small businessmen and Shopkeepers will now be able to get more loans. For small businesses, the government has raised cash credit limit is to 25 per cent from 20 per cent.
  • In another landmark decision aimed at reducing deaths of mothers during childbirths, pregnant women will get Rs. 6,000 for their delivery, vaccination and nutritious meals. The money will be transferred directly to their accounts.
  • Senior citizens will be assured 8 per cent interest on their deposits up to Rs. 7.5 lakh.
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