In the first address to the nation after the Demonetization, Prime Minister Narendra Modi spared any fireworks. He thanked the people of the country for the immense co-operation they gave the government in these 50 days and also showered sops on many sections of the society.
For houses less than 9 Lakhs, the government will offer 4% interest rebate and 3% interest rebate on House loans less than 12 Lakhs. The Government will also offer loans at 4% for the renovation of existing houses. Modi also offered Loan Guarantee up to 2 Crore for small industries.
The other scheme is targeted at women. The pilot project in 650 districts in the country will deposit 6000 for each pregnant women.For Senior Citizens, the government will offer 8% Fixed Interest on all the deposits up to 7 Lakhs.
But then at the end of the speech, there are still questions left open. How much did government save from the Demonetization? How much Black Money is flushed out of the economy? and finally the big question, When will the limited on the bank withdrawals be limited?
