Before FM, PM Modi announces 'mini-budget'.. 7 major announcements

New Delhi: On the 51st day of note ban, while addressing the nation Prime Minister Narendra Modi on Saturday announced a slew of measures aimed at  the poor, women, senior citizens, farmers and small and medium enterprises. These steps are being as seen as soothing balm after the note ban pain, and directed at the sections which were perceived to be worst affected by the note ban. 

Here are the major announcements made by the PM.   


1.Govt will pay interest for 60 days on loans taken by farmers for rabi season from district cooperative banks and primary societies. Amount will be transferred in accounts directly2.Govt to transfer Rs 6,000 in accounts of pregnant women in 650 districts for vaccination and other medical use3.8% interest guaranteed on deposits of up to Rs 7.5 lakh for 10 years for senior citizens. Interest will be paid monthly4.Banks will raise cash credit limit for small businesses to 25% from 20%5.Govt will guarantee loans up to Rs 2 crore from current Rs 1 crore, for small businesses6.3% less interest on loan up to Rs 2 lakh for construction/renovation of houses in rural areas7.Two new schemes under Pradhan Mantri Awas Yojana. 4% interest waiver on loan of up to Rs 9 lakh and of 3% on loan up to Rs 12 lakh. Scheme for urban poor