Prime Minister Narendra Modi announced new schemes and initiatives in his New Year’s Eve speech on 31st December 2016. Most of the announcements made by Narendra Modi were not completely new schemes but amendments in already running schemes. Shri Narendra Modi addressed the nation on NYE for about 45 minutes and makes announcements about cheaper loans under Pradhan Mantri Awas Yojana, saving scheme for old age citizens, scheme for pregnant women and others.
Below is the complete list of schemes/initiatives/amendments announced by Narendra Modi on 31st December.
Schemes Announced by Narendra Modi on 31 December
- Housing loans at lower interest rates: PM Awas Yojana beneficiaries to get 4% relief on loans up to Rs. 9 Lakh and 3% for loans up to Rs. 12 Lakh.
- Loans of up to Rs. 2 Lakh taken in 2017 for new housing or extension of housing in rural areas will receive interest subvention of 3%.
- Number of houses to be build under Pradhan Mantri Awas Yojana – Gramin has been increased by 33% i.e. from 3 Crore to 4 Crore.
- Government would pay 60 days of interest on Farmer’s loans availed from district cooperative and central banks for sowing operations this Rabi season..
- NABARD fund to be increased by Rs. 20,000 Crore to Rs. 41,000 Crore to provide loans to farmers ate lower interest rates. Loss to NABARD will be covered by central government.
- 3 Crore Kisan Credit cards to be converted into RuPay cards within next 3 months. This will facilitate them to withdraw money from ATM’s and sell & buy at any place through digital transactions.
- Credit guarantee for small entrepreneurs has been increased from Rs. 1 Crore to Rs. 2 Crore. Loans from Non Banking Finance Institutions would also be covered under this.
- Income tax for small entrepreneurs and traders would be calculated at at 6 per cent instead of 8 if they use digital modes of payments.
- New national scheme for pregnant women to cover their delivery, vaccination, for nutritious meals. A financial assistance of Rs. 6000 to every pregnant women would be provided under the scheme. Amount will be directly transferred to saving bank account of pregnant women.
- New saving schemes for senior citizens under which 8% interest would be assured on deposits of up to Rs. 7.5 Lakh. The interest earned can be withdrawn per month.
This was the first time Narendra Modi Addressed the nation after demonetization speech on 8th November. The detailed information about the schemes launched by Narendra Modi would be available soon.
The complete list of schemes launched by Narendra Modi Government can be found at the following link