PM Modi’s New Year Speech: Not Radical but extremely Important announcements nonetheless

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Modi New Year Speech

PM Modi’s New Year Speech– Message to people who faced hardships due to demonetisation

Prime Minister Narendra Modi on Saturday said thousands of people had written to him about the hardships they faced due to demonetisation but the November 8 decision proved that Indians wanted freedom from corruption.

“The corruption had made the people of the country to bow before of it without their will. And they wanted to come out of it,” Modi said in his speech to the nation on the New Year’s eve.

Terming demonetisation as a “historic cleansing ritual”, Modi said people of the country had taken the biggest “shudhi yagna” after Diwali.

PM Modi’s New Year Speech– normalising banking services

Prime Minister Narendra Modi said that normalising banking services, especially in the country’s rural and remote areas, was a priority in the New Year.

“Efforts are on to normalise banking services in the New Year as soon as possible,” Modi said in his speech to the nation on New Year’s Eve.

“All the people concerned have been directed to function proactively to normalise banking services, especially in rural and remote areas. They have been told to weed out even the smallest of weaknesses to ensure that problems of villagers and farmers are solved,” Modi added.

PM Modi’s New Year Address – Only 24 lakh people in the country declare that they earn over Rs 10 lakh a year

Prime Minister Narendra Modi said it was unacceptable that only 24 lakh people in the country have declared that they earn over Rs 10 lakh a year

“In the country, only 24 lakh people accept that their income is more than Rs 10 lakh. Can anyone accept it,” Modi said in his speech to the nation on New Year’s Eve.

“We all see big buildings and cars around us. In the big cities, one can find many people with more than Rs 10 lakh income,” he said.

The Prime Minister said this fight for honesty needed to be strengthened: “It is natural to discuss what will happen with the corrupt. law will take its own course.”

PM Modi’s New Year speech- Enhancement of credit guarantee scheme for small, medium and micro enterprises (SME) for loans up to Rs 2 crore

Prime Minister Narendra Modi announced the enhancement of credit guarantee scheme for small, medium and micro enterprises (SME) for loans up to Rs 2 crore

“We have decided to enhance the credit guarantee scheme (credit guarantee fund for micro units development refinance agency or MUDRA) for small business so that they can access more funds to fulfil their growth potential,” the Prime Minister said in his address to the nation.

“In this regard, guarantees for loans up to Rs 2 crore will be given by the government. The earlier limit of the scheme was Rs 1 crore.”

PM Modi’s New Year Speech– Deliberate snubbing of Nehru Family?

Prime Minister Narendra Modi studiously ignored the Nehru-Gandhi family legacy even as he invoked “sons of India” like Jayprakash Narayan, Ram Manohar Lohia and lal Bahadur Shastri in his much-awaited New Year’s speech to the nation.

“Citizens displayed such patience, had lal Bahadur Shastri, Jayprakash Narayan and Ram Manohar lohia been alive, they would have blessed them,” the Prime Minister said.

Speaking in English later, he also invoked Congress leader K. Kamraj, who was Congress president between 1964-1967. Modi also invoked Mahatma Gandhi, as well as Jan Sangh leader Deen Dayal Upadhyay.

PM Modi’s New Year Speech– Provide RuPay debit cards to farmers having Kisan credit cards

Prime Minister Narendra Modi promised to provide RuPay debit cards to farmers having Kisan credit cards.

“Three crore farmers who have Kisan credit cards will be given RuPay debit cards within next three months,” Modi said in a special address to the nation on New Year’s Eve.

 

PM Modi’s New Year Speech– list of sops that Prime Minister Narendra Modi announced

* Banks should work for benefit of poor, lower and middle classes

* Two new schemes under PM Awaas Yojna. Home loans for poor and middle class people upto Rs 9 lakh will get 4 per cent exemption on interest and 3 per cent upto Rs 12 lakh

* Sixty days interest waiver for farm loans taken from from district co-operative banks and co-operative societies

* Eight per cent interest up to Rs 7.5 lakh deposit by senior citizens in banks has been assured

* Credit guarantee for Micro Small and Medium Enterprises to be raised to Rs 2 crore from current Rs 1 crore

* Pregnant women across India will be given Rs 6,000 in their bank accounts to take care of initial medical needs

* Government will convert 3 crore Kisan Credit cards to RUpay Credit cards

* Banks have been asked to raise cash credit limit for small businesses to 25 per cent from 20 per cent

Source Links:

Indo-Asian News Service – http://ians.in/index.php?param=news/C-1-859490

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Indo-Asian News Service – http://ians.in/index.php?param=news/C-1-859480
Indo-Asian News Service – http://ians.in/index.php?param=news/C-1-859488