PM Narendra Modi New Year’s eve 2017 speech: Multiple benefits announced for farmers-from RuPay cards to interest relief on loans

By: | Published: December 31, 2016 9:07 PM

Prime Minister Narendra Modi in his New Year eve 2017 address announced benefits for farmers, a move aimed at easing the pain they have felt post the demonetisation drive.

ananana-lllAssuring people of better days ahead, PM Modi said that banks have been urged to focus on dealing with the problems that people are facing. (ANI)

Prime Minister Narendra Modi in his New Year eve 2017 address announced benefits for farmers, a move aimed at easing the pain they have felt post the demonetisation drive. “Three crore farmers who have Kisan Credit Cards, will be given RuPay debit cards within three months,” PM Modi announced. In additional benefit for farmers, PM Modi said that those farmers who have borrowed from District Cooperative Central Bank and primary society will get partial interest relief. “Those farmers who have borrowed from these banking institutions to sow kharif and rabi crops will get, the government will bear the burden of 60 days worth of their interest. This amount will be transferred in the bank accounts of farmers,” he said.

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. “Banking people have been asked to ease the problems that people are facing, this is particularly for the rural areas, so that villagers and farmers don’t have to bear any more pain,” he said. PM Modi started his address by saying that the youth of India will welcome the New Year with new enthusiasm.

PM Modi called the massive demonetisation drive of his government a historic “shuddhi yagana”. Lauding the 125 crore Indians who supported the decision and felt the pain, but were ready to sacrifice, PM Modi said, “After Diwali, after this announcement, we saw that everyone was determined to sacrifice and bear pain to defeat ill forces in the economy.” “Kuch baat hai ki hasti mitati nahi humaari – this is what the countrymen have proven,” PM Modi said.

PM Modi gave a big boost and cheer to common man looking to buy houses in both urban and rural areas. PM Modi announced new housing schemes as a gift post the massive support for demonetisation. For urban areas, two housing schemes were announced. Under the first scheme, for a home loan up to Rs 9 lakh, the borrower will get 4% interest subvention. Under the second scheme, for home loans up to Rs 12 lakh will get interest subvention of 3%. In rural areas, for people who are looking to build a new house or want to reconstruct and expand their existing homes, a 3% interest subvention would be given up to borrowings of Rs 2 lakh.

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