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Top 8 schemes announced by Modi on New Year’s eve


Top 8 schemes announced by Modi on New Year’s eve
Prime Minister Narendra Modi (Photo: PTI)

New Delhi: Prime Minister Narendra Modi, while addressing the nation on Saturday, announced a number of schemes for varied sections of the society, including the poor, pregnant women, senior citizens and farmers.

Modi, initially, addressed the nation on the government’s demonetisation move and later went on to announce an array of schemes for the benefit of poor and underprivileged sections of the society.

He announced loan waiver for farmers and people of the rural India and financial existence to pregnant women for their nutritional and health needs.

  • For senior citizens, 8 per cent interest rate will be guaranteed on deposits of up to Rs 7.5 lakh for 10 years; interest will be paid monthly.
  • Rs 6000 assistance will be provided to pregnant women; the assistance money will be transferred to their account.
  • Government to pay interest for 60 days on loans taken by farmers for rabi season from district cooperative banks and primary societies.
  • Two new schemes under Pradhan Mantri Awas Yojana to provide of 4 per cent interest waiver on loan of up to Rs 9 lakh and of 3 per cent on loan upto Rs 12 lakh.
  • 3 per cent interest waiver on loan upto Rs 2 lakh for construction of houses in rural India.
  • Government to bear 60 days interest on farm loans taken from District Cooperative Central Bank & primary society.
  • Cash credit limit for small enterprises be increased to 25 per cent from 20 per cent.
  • Government to stand guarantee for loans up to Rs 2 crore from current Rs 1 crore, to Micro Small and Medium Enterprises (MSME).

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