Highlights from PM Modi's New Year eve address

Following are the key highlights of Prime Minister Narendra Modi's address to the nation on New Year's eve, where he set the road map for the country post-demonetisation of Rs.1000 and Rs.500 currency notes

• Crores of Indians wanted freedom from stifling corruption. Intellectuals will later discuss how citizens step out to fight internal impurities

• Hardship faced by citizens will be a shining example of how foundation for a bright future is laid. This is a historic example of how govt and citizens are together fighting for truth and virtue.

• What India has done is unprecedented in world history. Yes, lack of cash gives pain, but more cash is more painful.

 

• Only 24 lakh people in India have declared that that their income is more than 10 lakh per annum. Will anyone accept or digest this? See the large number of cars and bungalows. There are lakhs of such people in each city.

• The money that was outside the economic mainstream is back. Technology has helped.

• Terrorism, naxalism, Maoism, drug trade, human trafficking, etc that rely on black money have been attacked by this decision of demonetisation.

• Bank employees and authorities along with people have done exemplary work, yes there have been reports of a few indulging in corruption.

• Home loans for poor and middle class of upto Rs nine lakh to get four percent exemption on interest and those upto 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 crore 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.

• The BHIM app was started and I urge people to make use of it. Let all scholars evaluate these policies of ours.

• In 1917, there was Gandhi's Champaran Satyagraha. After 100 years too, there is value for honesty in India. Today there is no Gandhi but his path is relevant.

• We have youth, ability, resources. Let's all come together and develop India.