Highlights From PM Narendra Modi’s New Year’s Eve Address To The Nation

Prime Minister Narendra Modi’s address to the nation on New Year’s Eve is the first since he announced his decision to withdraw the old high-value currency notes of Rs 500 and Rs 1,000.

Here are the updates from his speech:

- After Diwali, our country took an important decision to curb black money which will have long term benefits.

- The government and the public have fought together to fight black money.

- Now, the government will try to bring the situation back to normalcy.

- What India has done during this period is unprecedented.

- In the years gone by, Rs 500 and Rs 1000 currency notes were more in circulation in black economy, not in the regular economy.

- It is known across the world that Naxalism, terrorism, counterfeit note business get help from black money.

- Bank employees, banking correspondents and authorities, along with people, have done exemplary work.

- History is witness to the fact that never before has such a large amount of money come to the banks in such a short period of time.

- Law will take its course on black money holders, but the government’s priority is to reduce the difficulties of the honest people.

- Government has taken some big decisions to help poor and middle-class people to purchase houses.

- For poor and middle-class people, home loans of up to Rs 9 lakh will get a 4 per cent exemption on interest. For loan up to Rs 12 lakh, there will be a 3 per cent exemption.

- Rabi crop sowing has been up by 6 per cent, and fertiliser sales have risen by 9 per cent despite critics’ doomsday predictions.

- In the next three months, three crore Kisan Credit Cards will be converted to RuPay Cards.

- NABARD had created a fund of Rs 21,000 crore last month to make credit available. Now, the government is adding Rs 20,000 crore more to this fund.

- The loss that NABARD has suffered by giving loans to co-operative banks and societies at low interest rates shall be borne by the government.

- Credit guarantees for micro, small and medium enterprises (MSMEs) has been increased from Rs 1 crore to Rs 2 crore.

- Pregnant women will receive financial assistance of Rs 6,000. The money will be transferred to their accounts.

- Senior citizens will be assured 8 per cent interest on their deposits up to Rs. 7.5 lakh.

- Under Pradhan Mantri Awas Yojana, there will be a 3 per cent waiver of loan up to Rs 2 lakh for construction of houses in rural India.

- Banks have been asked to raise cash credit limit to small business from 20 per cent to 25 per cent.

- Banks have also been asked to increase working capital loans for enterprises that transact digitally from 20 per cent of turnover to 30 per cent.

- Today, the time has come for politicians to keep aside their holier than thou mentality and work for political reform.

- It is time for political parties to take steps to end black money in funding, as well as corruption.

- More and more people are transacting digitally. Yesterday, the government launched a new swadesi platform, BHIM (Bharat Interface for Money). I encourage people to use it as much as possible.

- Exactly 100 years ago, in 1917, Mahatma Gandhi initiated Satyagraha in Champaran. Now, a century later, we witness that people continue to keep that feeling of truth and goodness.

- Today, Mahatma Gandhi is not among us. But the path he showed is still most appropriate.

- We cannot allow this fight against corruption and black money to slow down.

- Our country of 125 crore people, with 65 per cent below the age of 35, having the means, the resources and the capability have no reason to stay behind.

- The new dawn of the new year comes with the resolve of new success.

- As we welcome the New Year, let us come together to build a bright future for the country.