Modi's speech also unveiled a collection of schemes-not unlike the budget, which is only a month away-that would assuage many of those jolted by demonetisation.
Cash credit limit for small enterprises be increased to 25 per cent from 20 per cent. He added that the 30 million Kisan Credit Cards which would be converted into RuPay cards and payment of interest for 60 days on loans taken by farmers for rabi farming from district cooperative banks and societies will provide the much-needed respite to the farmers.
-Loans of up to 2 lakh rupees taken in 2017 for new housing, or extension of housing in rural areas will receive an interest subvention of 3 per cent.
He also announced that credit guarantee raised from 1 crore to 2 crore for small entrepreneurs.
But critics said the PM had failed to disclose crucial information like how much of the abolished currency (which totaled about 15.5 lakh crores) has been returned, or the amount of new notes that have been made available. "In 2017, villagers who want to build their homes or expand them will get loans", Modi said.
Modi said senior citizens of the nation will be given guaranteed interest rate of at least 8 percent on deposits up to Rs 7.5 lakh.
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She showed her comedic streak in movies such as Scream 3 , Jay And Silent Bob Strike Back and Austin Powers . The actress had a small role as Lorna, the daughter of Lee Grant and Jack Warden's characters.
Introduces a nationwide scheme for financial assistance to pregnant women: 6,000 rupees will be transferred directly to the bank accounts of pregnant women who undergo institutional delivery and vaccinate their children. "We demand compensation for aggrieved family members, income and sales tax rebate to traders and common man", he said.
"In this fight against corruption and black money, it is clear that you would like to walk shoulder to shoulder with us (the government)", he said. He lauded the "sacrifice" that people were willing to make to weed out the deeply entrenched corruption from the system.
He said the money that was with terrorists, Maoists, and human traffickers "has been neutralised" and that black money has all been forced out into the open. He hoped for better of future as a lot of black money has been seized in the country. Modi had asked for 50 days, until the end of this month, to ease the crisis.
PM Modi asks banks to focus on poor, lower middle class and middle class to tune their programmes out of huge money that has come to them.
He said though crores of people were reeling under "severe difficulties and pain" and large number of them lost their jobs, Modi did not talk about any roadmap for them, showing his "insensitivity". Rs 4-5 lakh cr was expected to stay out of the banking system as black money hoarders were likely to find it hard to deposit in the face of stringent RBI norms.