PM Narendra Modi addressed the nation on New Year's eve at the dawn of 2017. The Prime Minister's address on December 31 came a day after India marked 50 days of demonetisation where Rs 500 and Rs 1000 notes were scrapped.
PM Narendra Modi addressed the nation on New Year’s eve at the dawn of 2017. The Prime Minister’s address on December 31 came a day after India marked 50 days of demonetisation where Rs 500 and Rs 1000 notes were scrapped. These 50 days witnessed mixed reactions from the common man on Narendra Modi-led government’s move. This was the second time PM Modi addressed the whole nation after November 8. The citizens of the country eagerly watched Modi’s speech with hopes to get some answers to their questions. Modi said that he was overwhelmed by the support of the people. In his address, PM Modi was expected to speak about the road-map post the demonetisation period especially on the steps likely to be taken to ease cash flow that has been a major problem ever since demonetisation took place. He may also speak on the steps to deal with the problems the economy faces after the demonetisation was announced.
PM Modi in his speech asked, “Till when will we turn our back to reality?” He added that the government is always a friend of the honest and will punish the corrupt. He said the old notes were present in high numbers in a parallel economy. He asked, “How will the common man accept it?” He added that the government is an enemy of the corrupt. He said that they will face the consequences. Modi said India has seen shuddhi yagna since Diwali. He said that after Diwali, our country took an important decision to curb black money which will have long term benefits. He added that the cleansing ritual will help India and that the people have shown that truth to succeed. He said that the honest want freedom from corruption.
Modi, in his speech, claimed that black money had cripled our economy and the government has laid the foundation for a brighter economy and the old notes were present in large numbers in a parallel economy. He added that the sacrifice by citizens is an example for all and that has proven the value of honesty. Modi urged banks to return to normalcy and that they should focus on the poor. He praised the Indian citizens by saying, “The way people have showed exemplary courage and patience, leaders like Ram Manohar Lohia, middle classLal Bahadur Shastri and others would be proud of them. Assuring people of better days ahead, PM Modi said that banks have been urged to focus on dealing with the problems that people are facing. Here is a list of quotes which PM Modi said in his speech:
1. Home loans middle-class people upto Rs 9 lakh will get 4 % exemption on interest and upto Rs 12 lakh will get 3 % exemption.
2. Government has taken some decisions to enable poor and middle class people to purchase houses.
3. I urge banks to take initiatives and launch schemes keeping in mind the poor and the middle class people, as a large amount of money have been deposited in banks; request banks to come out of its traditional way of functioning.
4. In the next three months 3 crore kisaan credit cards will be turned to RuPay card.
5. Rs 6000 assistance will be provided to pregnant women; the assistance money will be transferred to their account.
6. According to data, only 24 lakh people in the country have declared that their salary is above Rs 10 lakh under Income Tax.
7. 3% interest waiver on loan upto Rs 2 lakh for construction of houses in rural India, under PM Awas Yojana.
8. Banks have been asked to raise cash credit limit to small business to 25% from 20%.