PM Narendra Modi New Year Speech

1. Pregnant women to get Rs 6000 for childbirth. Its only for women living in rural area. So urban population don't excited with your family planning. :)

2. Big Discount on Housing Loans.

a) If Loan availed upto Rs 9 lakhs, interest subvention of 4%.

b) If Loan availed upto Rs 12 Lakhs, interest subvention of 3%.

3. Senior Citizens to earn 8% interest on Fixed Deposits made by them, provided F.D is upto Rs 7.5 lakhs.

4. For Farmers: Govt to pay interest for 60 days on loans taken by farmers for rabi season from district cooperative banks & societies.

5. For Traders:

a) For Turnover upto Rs 2 crores, deemed profit u/s 44AD of Income Tax Act will be 6% instead of 8% earlier, but only for turnover generated through digital payments.

b) Credit guarantee for Micro, Small and Medium Enterprises to be raised to Rs 2 crores from current Rs 1 crore. It means collateral free loan that can be availed by MSME will be upto Rs 2 crores now.

# What’s the big deal about above proposals: All the benefits will be transferred directly to the bank account of the beneficiaries. In this way, Modi ji is banking on his digital India dream.

# What we expected from the speech:

a) How much money was deposited into bank in these 50 days of demonetisation move.

b) In the speech, it was admitted that only 24 lakh Indians accept that they earn Rs 10 lakh & above yearly. But, how the government proposes to increases its tax base was not mentioned.

c) Further, mention of increase in basic exemption limit, which is making noise these days, was not there. If such proposal is on government’s card, then some hint should have been given to calm the general public.

P.S: The word #mitron was also missing from the speech for the first time.