Modi’s New year gift for Farmers, Poor, Women and Traders

modi1After 50-day long demonetization exercise, Prime Minister Narendra Modi announced soaps on the eve of New year for farmers, poor, middle class, MSME industries and pregnant women.

Addressing the nation Modi said, Home loans for poor and middle class of up to Rs nine lakh to get four percent exemption on interest and those up to Rs 12 lakh to get three percent exemption under PM Awas Yojana. Also, on Rs. 20 lakh loan, two percent rebate will be given.

Three crore Kisan credit cards will be converted to Rupay cards. Also, 60 days of interest will be given and credit to their accounts.

For Micro Small and Medium Enterprises (MSME), increase in credit guarantee for them to two crores from one crore. NBFC loans will also be covered under this scheme.

Rs 6000 assistance will be provided to pregnant women for registration, delivery, vaccination, nutrition. The assistance money will be transferred to their account

For senior citizens – on up to 7.5 lakh Rs deposit, yearly eight percent interest will be there for 10 years.