From empathy to sops: 10 key takeaways from Modi's New Year's Eve speech

The PM announced several measures for senior citizens, farmers, pregnant women and home buyers

Prime Minister Narendra Modi on Saturday announced several measures for senior citizens, farmers, pregnant women, the MSME sector and home buyers. In his address to the nation on the New Year's Eve, Modi thanked people for enduring the ‘pain’ caused after the government's November 8 decision to demonetise Rs 500 and Rs 1,000 currency notes. The Reserve Bank of India (RBI) had on Friday increased the daily withdrawal limit from ATMs to Rs 4,500 from Rs 2,500 per card per day. This will be effective from January 1, 2017. The weekly withdrawal limit (Rs 24,000), however, remains unchanged. RBI said disbursals would be mostly in Rs 500 notes. 

 

Here are 10 important takeaways from Prime Minister Narendra Modi's address to the nation on the New Year's Eve:

1. The government will bear 60 days' interest on select farm loans.
 

2. In 2017, the government is bringing new housing schemes. a) On home loans of up to Rs 9 lakh, for poor and middle class people will get 4% exemption on interest; b) on loans of up to Rs 12 lakh, the exemption will be 3%
 

3. PM announced schemes for women: Rs 6,000 assistance for pregnant women.
 

4. "I am overwhelmed by the public support after demonetisation," said Modi.
 

5. Modi says honest taxpayers will get benefit.
 

6. Thirty million kisaan credit cards will be converted into RuPay cards, said the PM.
 

7. 33% more homes would be build in rural areas under the Pradhan Mantri Awas Yojana. 
 

8. The credit guarantee of MSME will be increased to Rs 2 crore from Rs 1 crore.
 

9. The government will guarantee loans up to Rs 2 crore for small traders.
 

10. For senior citizens, 8% interest on deposits of up to Rs 7.5 lakh for 10 years.