Dear Readers,
Welcome to Mentor
for Bank Exams. Here I am sharing Speech of PM Modi announcements for
enhancing economic activities and welfare measures.
Prime Minister Narendra Modi has announced two housing schemes,
tax incentives for small traders, interest rebate for farmers and monetary
assistance for pregnant women.
1. Bonanza for Home
Buyers:-
In a big relief to home buyers, New
Schemes under Pradhan Mantri Awas Yojana were announced. Now get 4 % interest
relief on home loan upto 9 lakh rupees. And 3 % cut for home loan upto 12 lakh
rupees.
2. Subvention on Home
Improvements:-
In rural areas, now you can get 3 %
interest relief on loan of upto 2 lakh rupees for the construction, renovation
and expansion of home.
3. Big relief to Farmers:-
Govt to pay interest for 60 days on
loans taken by farmers for rabi season from district cooperative banks and
primary societies.
4. Fund to NABARD
doubled:-
Additional fund of 20,000 crore given
to NABARD to give loans to farmers
5. Kisan Credit Cards to
become RUPAY:-
3 crore Kisan Credit Cards will be
transformed to RuPay credit cards. Farmers had to go to banks to withdraw
money. It will help farmers to sell and buy.
6. Big boost to MSME
sector:-
For small entrepreneurs, credit
guarantee raised from Rs 1 crore to Rs 2 crore. Loans by non-banking financial
companies will also be covered in this. Shopkeepers and small businessmen will
get more loans because of this.
7. Relief to small
traders:-
For small businesses, cash credit
limit raised to 25 per cent from 20 per cent. Working capital increased to 30 %
from the current 20% if the transaction is done via digital mode.
8. Big push to less cash
Economy:-
In a bid to promote less cash economy,
PM says small traders and businesses with a turnover of up to Rs 2 crore, 6%
tax will be levied instead of 8% if they accept payments through banking and
digital means.
9. Scheme for pregnant
women:-
For pregnant women, a national scheme
launched. Would be Mothers will get Rs. 6,000 for their delivery, vaccination,
and nutritious meals. This will be transferred straight to their account. This
will help in saving lives of mothers and new born kids.
10. Relief to senior
citizens:-
Senior citizens will be assured 8 per
cent interest on their deposits up to Rs 7.5 lakh. Now for the senior citizens
the interest rate shall remain fixed at 8 percent for next 10 years.
Union Finance Minister Arun Jaitley has lauded Prime Minister Modi’s
announcements for enhancing economic activities and welfare measures.
Thank you,
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