Economy

Narendra Modi Gifts Various Schemes On New Years Eve

Narendra Modi Gifts Various Schemes On New Year

Mr. Narendra Modi has always said that his government is completely dedicated to the poor and the needy ones. One by one, he is proving all of his given words. This New Year, he took one more step to help the middle class and the poor ones. This year, Narendra Modi made several new announcements that will ease the way as well as standard of living of these people. He announced a series of schemes on the New Years Eve that would focus specially on the welfare of poor and farmers.

  • For The Poor And Middle Class:

I guess this New Year should be the best for the farmers as well as the middle class people. And this has been possible because of the constant effort put by Mr. Narendra Modi. Here are some of the schemes that will be implemented for the middle class as well as for the poor:

  • On interest rates, a rebate of three to four percentages will be given to various people, seeking home loans. It will be implemented from this year, i.e., 2017.
  • It is announced that a concession of four and three percentage will be given to those seeking home loans of 9 lakhs and 12 lakhs respectively.
  • Under the Pradhan Mantri Grameen Awas Yojana, (PMGAY) scheme, the government will build 33 percentage more homes, in the villages.
  • There is concession provided for even those who needs to modify their houses. They would get a three percent concession, on a loan amount of up to 2 lakhs.
  • Narendra Modi also announced a 60-day interest waiver for the farmers who take up loan in the Rabi season.
  • Within three months, approximately three crore farmer’s Kisan credit card would be converted to Rupay debit cards.
  • For Senior Citizens And Pregnant Women:

Majority of the decisions made by Narendra Modi are in favor of the poor as well as the middle class. Also, there are some decisions that are announced, keeping in mind the senior citizens and the pregnant ladies. Let us look into those schemes as well.

  • A fixed interest rate of 8 percent will be given to the senior citizens, on their deposits of up to 7.5 lakhs. This will be applicable for a period of 10 years.
  • The cash credit limit will be raised to 25 percent from 20 percent for small businesses.
  • Also, for small entrepreneurs, the credit guarantee will be increased to 2 crores, from 1 crore.
  • Pregnant women will receive an amount of Rs. 6000, in order to help child raising. This scheme would be applicable to all women in poor district areas. It will help reduce the child mortality rate.

He also said that the government will add Rs. 20000 crore more to the Rs. 21000 crore fund created by NABARD. All the losses that NABARD suffers, will be borne by the government. Let us hope that introducing all these schemes will help Narendra Modi achieve everything that he planned.

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3 Comments

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