PM announces number of measures for welfare of farmers, small traders, women & senior citizens
Prime
Minister Narendra Modi has announced two housing schemes, tax incentives
for small traders, interest rebate for farmers and monetary assistance
for pregnant women.
(1) Bonanza for Home Buyers
In a
big relief to home buyers, New Schemes under Pradhan Mantri Awas Yojana
were announced. Now get 4 % interest relief on home loan upto 9 lakh
rupees. And 3 % cut for home loan upto 12 lakh rupees.
(2) Subvention on Home Improvements
In
rural areas, now you can get 3 % interest relief on loan of upto 2 lakh
rupees for the construction, renovation and expansion of home.
(3) Big relief to Farmers
Govt
to pay interest for 60 days on loans taken by farmers for rabi season
from district cooperative banks and primary societies.
(4) Fund to NABARD doubled
Additional fund of 20,000 crore given to NABARD to give loans to farmers.
(5) Kisan Credit Cards to become RUPAY
3
crore Kisan Credit Cards will be transformed to RuPay credit cards.
Farmers had to go to banks to withdraw money. It will help farmers to
sell and buy.
(6) Big boost to MSME sector
For
small entrepreneurs, credit guarantee raised from Rs 1 crore to Rs 2
crore. Loans by non-banking financial companies will also be covered in
this. Shopkeepers and small businessmen will get more loans because of
this.
(7) Relief to small traders
For
small businesses, cash credit limit raised to 25 per cent from 20 per
cent. Working capital increased to 30 % from the current 20% if the
transaction is done via digital mode.
(8) Big push to less cash Economy
In a
bid to promote less cash economy, PM says small traders and businesses
with a turnover of up to Rs 2 crore, 6% tax will be levied instead of 8%
if they accept payments through banking and digital means.
(9) Scheme for pregnant women
For
pregnant women, a national scheme launched. Would be Mothers will get
Rs. 6,000 for their delivery, vaccination, and nutritious meals. This
will be transferred straight to their account. This will help in saving
lives of mothers and new born kids.
(10) Relief to senior citizens
Senior
citizens will be assured 8 per cent interest on their deposits up to Rs
7.5 lakh. Now for the senior citizens the interest rate shall remain
fixed at 8 percent for next 10 years.
Union
Finance Minister Arun Jaitley has lauded Prime Minister Modi’s
announcements for enhancing economic activities and welfare measures.
NRIs can exchange defunct notes up to June 30: RBI
I.
Reserve Bank last night came out with conditions for exchange of
defunct notes for those, including non-resident Indians, who failed to
do so till 30th December 2016, the last day for depositing the invalid
currency notes in banks. Resident Indian citizens who were abroad from
November 9th to December 30th can avail this facility up to March 31st,
2017 and NRI citizens, who were abroad during this period, can exchange
their defunct notes up to June 30th, 2017.
II. While
there is no monetary limit for exchange for the eligible resident
Indians, the limit for NRIs will be as per the relevant FEMA Regulations
25,000 rupees per person.
Justice Mian Saqib Nisar appointed as Chief Justice of Pak
I. Justice
Mian Saqib Nisar has taken oath as the 25th Chief Justice of Pakistan.
The oath was administered by the country's President Mamnoon Hussain at
the President House. The event was attended by Prime Minister Nawaz
Sharif and other dignitaries. Justice Nisar has replaced Justice Anwar
Zaheer Jamali who retired after serving as Chief Justice for 15 since
his appointment in September 2015.
Sikkim became India’s first fully organic state in 2016
I. Sikkim
has emerged as the India’s first fully organic state by converting
around 75,000 hectares of agricultural land into sustainable
cultivation. Prime Minister Narendra Modi formally certified Fully
Organic State Status to Sikkim at a sustainable agriculture conference
in Gangtok earlier in 2016.
II.
Around 75,000 hectares of agricultural land has been gradually
converted to certified organic land by implementing organic practices
and principles as per guidelines laid down in National Programme for
Organic Production. Organic cultivation is free of chemical pesticides
and chemical fertilisers to maintain a balance with ecosystems.
Sustainable farming also helps in building the soil health resulting in
sustainable increased crop production. Organic Farming will also boost
the tourism industry in the tiny landlocked Himalayan state of Sikkim.
British-Indian Professor Shankar Balasubramanian Receives Knighthood
I. Shankar
Balasubramanian, an Indian- origin British professor of chemistry and
DNA expert at Cambridge University, has received a Knighthood along with
Olympic stars Andy Murray and Mo Farah among others by Queen Elizabeth
II for their contributions.
II.
Balasubramanian, 50, Herchel Smith Professor of Medicinal Chemistry at
Cambridge University, has been recognised for his work as a co-inventor
of Next Generation DNA sequencing, described as the most
transformational advance in biology and medicine for decades.
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