The Prime Minister Narendra Modi, addressed the Nation on 31st December 2016 at 7:30 PM….The eve of the New Year. This was the Prime Minister’s First speech after demonetization and a lot of our citizens were eagerly waiting for this speech.
Citizens of our country have been standing in long queues at banks and ATM’s, waiting to withdraw money, they so badly need. But…brave citizens of our country were willing to endure all this hardship, with one and only purpose in mind….Destroy black money in the economy. This is what the Prime Minister had to say on black money and how it destroys our economy.
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The Prime Minister says…Human beings are basically good. But…over time corruption seeps in. Corruption, black money and counterfeit notes, have destroyed the social fabric of our country. Corruption whether we like it or not, has become part and parcel of our daily lives.
Crores of Indians are trying to escape from the suffocation of black money. Demonetization gives our 125 crore citizens, the ONE CHANCE to come out of the corruption of black money. As brave citizens of our country, stand in line to fight corruption, it’s time for some rewards.
As a New Year gift, from January 1st 2017, you can withdraw INR 4,500 per day, per card at ATM’s. The weekly limit per bank account remains unchanged at INR 24,000.
The Prime Minister says….So many years have passed after Independence. Yet, the poor in our country, do not have their own home. Houses are out of the reach of even the middle class. The Government wants the poor, middle class and the neo middle class, to have their own home. The Prime Minister has launched two schemes under the Pradhan Mantri Awaas Yojana.
The number of houses which are being built for the poor under the Pradhan Mantri Awaas Yojana in rural areas, will be raised by 33%. Home Loans which are taken in 2017, by the poor and middle class up to INR 9 Lakhs, will receive an interest rebate of 4%. Home Loans which are taken in 2017 up to INR 12 Lakhs, will receive an interest rebate of 3%. Loans which are taken in 2017 up to INR 2 Lakhs, for extension of housing in rural areas, will receive an interest rebate of 3%.
Yes…Now the urban poor in our country can avail a home loan and buy their own home.
In recent times, banks have been cutting interest rates on fixed deposits. Senior citizens have been getting less interest on their fixed deposits. The Government does not want Senior citizens to suffer.
The Prime Minister announced a new scheme. The Prime Minister in his speech to the Nation, said that senior citizens (who are above 60 years of age) would be given a guaranteed interest rate of 8%, on bank deposits up to INR 7.5 Lakhs, for a period of 10 years .This interest will be paid monthly.
The Prime Minister wants to bring down maternal mortality rate in the country. The Prime Minister has announced a scheme, to provide financial aid to pregnant women, up to INR 6000. A Pregnant women will be provided INR 6000 to cover cost of hospitalization, vaccination and nutritional food. This amount will be directly transferred to the bank account of pregnant women. This should bring down, maternity mortality rate in the country.
Finally….The Prime Minister says… It’s time for all Political parties and leaders to move away from “holier than thou approach”. Political parties need to understand the anger of citizens and respect the feelings of honest citizens. Be Wise, Get Rich.
Mr. C S Sudheer is the founder and CEO of IndianMoney.com – India’s largest Financial Education Company. He started his career with ICICI Prudential Life Insurance and later on worked with Howden India. After his brief stint in Howden India, he moved on and incorporated Suvision Holdings Pvt Ltd which is the sole promoter of IndianMoney.com. He aims to build a nation that is financially literate with investment savvy citizens.
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