Nation Politics 31 Dec 2016 Prime Minister Naren ...

Prime Minister Narendra Modi's New Year's Eve speech: highlights

Published Dec 31, 2016, 7:32 pm IST
Updated Dec 31, 2016, 9:35 pm IST
The Prime Minister was speaking regarding the demonetisation move which came into affect on November 8.
Prime Minister Narendra Modi (Photo: PTI)
 Prime Minister Narendra Modi (Photo: PTI)

New Delhi: Addressing the nation on the New Year ’s Eve, Prime Minister Narendra Modi on Saturday announced an array of new schemes that will benefit the homeless poor, farmers, senior citizens and small scale industrialists.

Ending two days of mounting suspense, the prime Minister thanked the people for the patience they have shown after the demonetisation decision and pointed out that considering the response that the move has gathered, it was evident that the country and its people were looking for a way to beat corruption and black money.


“Our country has been through a historic purification ceremony after the announcement of demeontisation this Diwali. This will play an important role in the course of the nation for many years to come,” Modi said.

"Our lives had been entangled in black money, corruption. The situation had forced honest people to kneel before it. They had no choice but to accept it. What happened after Diwali shows Indians were desperate to get rid of corruption," he said.

The speech comes a day after December 30 deadline, allocated to exchange the old Rs 500 and Rs 2,000 notes expired.


Highlightsfrom the Prime Minister's speech

  • As we welcome the New Year, lets come together to build a bright future of the country
  • Keep fighting the fight against corruption
  • Let all scholars evaluate these policies of ours. People have been very patient
  • People want digital payments now. I appeal to people to use BHIM app
  • There has been talk for simultaneous LS/Assembly polls. Time has come for a debate on this
  •  Let political parties not act holier than thou. Let us be transparent
  • There are has been developments in the country after the introduction of digital transactions and e-payments
  • It's time that the political leaders and parties move towards making the nation corruption free
  • It's time that all political parties and leaders understand the needs of the people
  • For senior citizens , yearly 8% interest for 10 years for deposits up to 7.5L
  • 3 per cent interest waiver on loan up to Rs 2 lakh for construction of houses in rural India
  • For pregnant women, Rs 6000 will be provided for fulfilling their nutritional and health needs
  • Cash credit limit for small enterprises be increased to 25 per cent from 20 per cent
  • Schemes under Pradhan Mantri Awas Yojana to provide of 4 per cent interest waiver on loan of up to Rs 9lakh & of 3 per cent on loan up to Rs12lakh.
  • For MSMEs, we have decided to increase credit guarantee for them to 2 crore from 1 crore
  • Government to bear 60 days interest on farm loans taken from District Cooperative Central Bank & primary society
  • In next 3 months, Kisaan credit cards will be converted to Rupay Cards
  • If farmers take loans, Govt will provide 60 days of interest and credit it to their accounts
  • Measures have been taken to get more loans from cooperative banks and societies for farmers at low interest rates
  • In 2017, those in villages who want to build houses will be given 3 per cent discount on Rs 2 lakhs
  • For housing loans up to 2 lakh - 3% interest relief; 9 lakh - 4% interest relief; 12 lakh - 3% interest relief will be given
  • PM Awaas Yojana will have two new schemes so that poor can take loans for building homes
  • Housing had become unaffordable for middle and lower middle class people
  • Development of the country is possible only when the women, downtrodden and poor are provided with proper facilities
  • When decisions are taken with a purpose, they tend to become a success
  • Many govt officials are also caught indulged in corruption and this will not be forgiven
  • Bank employees and authorities along with people have done exemplary work, yes there have been reports of a few indulging in corruption
  • All concerned directed to restore normalcy in banking system, in rural & far flung areas, to end difficulties of people
  • The problems which the people faced for betterment of the country is an example in itself
  • Technology has also helped in making this decision a success, also the bank officials and post office workers
  • This decision (demonetisation) has wounded those who are into back money, corruption
  • Law will do its work with an iron fist, but govt will ensure that honest are safe.
  • The government is friend of the honest and is working to bring those who do not value honesty into its fold.
  • Lack of cash created problems but excess cash creates more problems
  • Deficiency of cash in an economy is painful
  •  It is a good sign that the citizens of a nation are standing together to fight against black money
  • What happened after Diwali shows Indians were looking for a way to beat it.
  • Our lives had been entangled in black money, corruption; Had forced the honest people to kneel before it. They had no choice but to accept it.
  • Humans feel suffocated by the evils brought in over time. He tries to break free from them.
  • The pains that the citizens have experienced has set an example how strong our citizens are
  • For coming years, this will decide the course of things to come.
  • India has become witness to a shuddhikaran (purification) drive.
  • 125 crore Indians will welcome the new year with new decisions, new spirits.