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Prime Minister Narendra Modi announced a string of schemes for the poor, farmers and senior citizens during his New Year eve speech and also appealed politicians to work together for country's development.

HIGHLIGHTS OF PM MODI'S NEW YEAR SPEECH ON 31ST DECEMBER 2016

  1. PM Modi announces a string of schemes for poor, farmers in New Year speech.
  2. PM thanks people for cooperation to his demonetisation move.
  3. Leaders should shun their holier-than-thou attitude: PM Modi.
Prime Minister Narendra Modi addressed the nation today, his first since the November 8 demonetisation announcement. In his televised address on New Year's eve, the Prime Minister thanked and praised the people for their cooperation for 'supporting' the government's of banning the circulation of old Rs 500, 1000.

PM Modi also announced a slew of sops for the poor, middle-class, farmers and senior citizens. He also appealed political parties to shun their ' holier-than-thou attitude' and work for the development of the country together.

The PM has come under heavy fire from the Opposition for his move, however, he promised that disruptions caused by demonestisation would ease out in 50 days. "I always said that the Government's measure will bri ng a degree of inconvenience but this short term pain will pave way for long term gains," he said while asking people to support him in the fight against black money and corruption.

"India's 1.25 billion citizens, however, have welcomed it wholeheartedly and supported it even in the face of great personal difficulties, intuitively understanding its impact and importance," he said.

HERE ARE THE HIGHLIGHTS OF PM MODI'S NEW YEAR ADDRESS:

  • Political parties should shun holier-than-thou attitude, says PM Modi.
  • Scheme for senior citizens: For 10 years up to Rs 7.5 lakh senior citizens will be capped at 8 per cent. So that lower deposit rates don't hurt: PM Modi
  • Government to bear 60 days interest on farm loans taken from District Cooperative Central Bank.
  • Small scale and medium enterprises play important role in increasing job opportunities. Credit guarantees by government increased to Rs 2 crore.
  • In next months, three crore Kisan Credit Cards to be converted to RUPAY card.
  • In 2017, if poor people want to expand their homes, they will be given Rs 2 lakh at an interest rate of 3 per cent less than normal: PM Modi
  • In 2017, 4 per cent rebate on interest on Rs 9 lakh loan, 3 per cent rebate on interest rate on Rs 12 lakh loan taken for construction of house.
  • PM Modi announced new housing loan schemes.
  • There will be long term benefits if banks start thinking of the welfare of people beyond their traditional customers.
  • Banks have never had so much money in their systems ever before. Banks should start thinking about the poor, middle class and the lower-middle class.
  • Some banks and some people were involved in serious corruption and they will not be spared.
  • A balance has to be brought between cash in the system and being cashless.
  • All concerned people are directed to restore normalcy in banking system, particularly in rural and far flung areas, to end difficulties of people.
  • The law will come down hard against corruption. This government is a friend of the honest and an enemy of the dishonest.
  • In past few years Rs 1000, 500 notes were being used in parallel economy.
  • People of India were waiting for an opportunity to end this struggle against corruption.
  • No country has as much cash as our system had.
  • High denomination notes were increasing flow of black money and increasing black marketing in the economy.
  • The officials have been told to concentrate on improving the banking facilities especially in rural and distant places across the country.
  • The problems which the people have faced for the betterment of the country is an example in itself.
  • After Diwali, our country took an important decision to curb black money which will have long term benefits.
  • Overwhelmed by people's support. This 'Shuddhi Yagna' we began had the people's support.
  • Demonetisation a historical Shuddhi Yagna: Prime Minister Narendra Modi.
  • PM Modi will address the nation 7.30 pm, says BJP in a tweet.
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