Incentives for poor in Modi's New Year agenda

Zachary BarrettJan 03, 2017

If Shastri, Kamaraj or other great leaders were alive, they would have blessed us.

BJP State Spokesperson Shivratan Sharma while addressing a press conference on Sunday termed the Prime Minister's address to the Nation on the eve of New Year as historic and unprecedented.

Home loans for poor and middle class upto Rs 9 lakh will get 4 % exemption on interest and upto Rs 12 lakh will get 3 % exemption.

Government to bear 60 days interest on select farm loans.

On Nov. 23, the national bank for agriculture and rural development (NABARD) created a fund of Rs21,000 crore to help farmers sow winter crops. He had also asked the Prime Minister about the economic impact of this move and details about the number of jobs lost.

This could bring down final borrowing rates for farmers.

He has also announced about measures for the weaker section of the society, including the housing subsidies in the urban areas and conversion of the Kisan Cards into the Rupay cards for the farmers.

Together the two notes represented 86% of the currency in circulation and there have been chaotic scenes in India ever since, with people having to spend hours queuing outside banks and cash machines which have been running out of money.

At a press conference in Tumakuru city, Mr. Jayachandra alleged that the Union government has given a benefit of Rs.5 lakh crore in the form of loan waiver to corporate companies.


Government to double its loan guarantee scheme to small businesses to 20 million rupees.

In a bid to soften the demonetisation blow, the Prime Minister Narendra Modi has rolled out several new schemes for the low and middle income groups, while thanking people for enduring the note-ban pain.

"This will be transferred straight to their account".

Experts say there is a powerful feeling of schadenfreude among the general public: a hope that India's highflying, tax-dodging one-percenters will suffer more if the economy is cleaned up.

But with India in the grip of a severe currency shortage since the government invalidated 86% of the cash in circulation on November 8, the couple couldn't scrape together even $100 for transportation to the hospital.

The government has pitched the move as part of a broader strategy to clamp down on India's bustling parallel economy where deals take place in cash.

"The common man will be trouble free if they are made aware of the digital financial transaction options", he said asking the youth to lead the change.

The demonetisation move has set in motion the world's largest currency culling exercise with people given 50-days to deposit old notes in banks and post-offices by December 30.

1/ Time for politicians to let go of "holier than thou" approach.

Related Articles:



« Previous article
Next article »


Popular Pages

Harden's Triple-Double Leads Win Over Shorthanded Clippers
Trey Burke came off the bench to score 20 of his season-high 27 points in the first half of Washington's 118-95 rout of Brooklyn. Keyed by a pair of three-pointers by Marreese Speights, the Clippers fought back with an 18-4 run that cut the deficit to 64-53.

Samsung Galaxy J7 (2017) Renders Leak, Here's What to Expect
However, to recall, it was said earlier that the smartphone would be featuring a 6 GB of RAM and 256 GB of internal storage. This week, Sammobile reported on the fourth Android Nougat beta version coming for Samsung Galaxy S7 and S7 Edge devices.

23 dead after ferry catches fire near Jakarta
The vessel was carrying more than 240 passengers to the resort island of Tidung about 50 kilometers northwest of Jakarta . Local media reports say the fire started in the engine room shortly after the ferry left Jakarta.

Edwards Led A Football Revolution
When he retired in 2000, Edwards had a career record of 257-101-3, the seventh-best record in Football Bowl Subdivision history. That began a run of 27-straight non-losing seasons, 22 bowl appearances and 20 league titles.

Taiwan president says more infrastructure spending possible to boost economy
Taiwan's President Tsai Ing-wen speaks during the New Year's Eve news conference in Taipei on December 31, 2016. Trump said the call was "very nice" and was to congratulate him on winning the presidential election.

Adele & Longtime Boyfriend Finally Married? Check Out The Ring She's Wearing
Adele allegedly marries Simon Konecki in a private ceremony. "The plan is to marry in L.A. In March, the singer sported a gold band on her ring finger during one of her concerts.

Carr goes down, and so do Raiders in National Football League power rankings roundup
So it's understandable that the organization doesn't want this opportunity to pass them by without one of their best players. Carr, who has been in the NFL MVP discussion, broke his fibula in last week's game against the Indianapolis Colts.

Andy Murray among British Olympians celebrated in New Year honors list
Both Katherine Grainger and Jessica-Ennis Hill were given damehoods following their final Olympic Games after retiring post-Rio. Laura won gold in the Omnium and Team Pursuit events at this year's Rio Olympics, while Jason took home three gold medals.

Facebook & Google dominate the list of 2016's top apps
The social networking app had more than 146 million average unique users each month, a growth of 14 percent from previous year . In third-quarter, a majority of subscribers used Android (53 percent) and iOS (45 percent) devices to access their apps.

Texas Judge Issues Nationwide Injunction Against Federal Transgender Health Mandate
He ruled that schools must treat a student's gender identity as the student's sex so as to comply with federal nondiscrimination statutes.