Fresh initiatives announced by PM would accelerate economic growth: Dy CM

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Newspoint Bureau
Jammu Tawi, January 1
Deputy Chief Minister, Dr Nirmal Singh today has said the initiatives announced by the Prime Minister Narendra Modi would go a long way in providing succor to the urban poor, senior citizens and women besides accelerating economic and industrial growth in the country. The Deputy Chief Minister was addressing an impressive gathering at Mahanal in Kathua district here today after paying obeisance at Aapshambu. Senior political leader, Ms Mamta Singh, prominent citizens and senior officers of administration were present on the occasion.
While referring to the announcements made by the Prime Minister on eve of the New Year in his address to the nation, the Deputy Chief Minister said the hike in Pradhan Mantri Awaas Yojna (PMAY) by 33 percent would ensure that the housing needs of urban poor are addressed to a large extent. He said 3 crore Kissan Credit Cards would also be converted into Rupay Cards which would give the freedom to the farmers to withdraw money or subscribe to any service without visiting the banks thereby saving their time and ensuring hassle-free services. “NABARD funding which was to the tune of Rs 21000 crore is also being increased by additional Rs 2000 crore so that the Agriculture related activities would get the required fillip. Similarly, the farmers who have taken loans from Central Cooperative Banks will get grace period for interest for first sixty days which would be borne by the government”, the Deputy Chief Minister said and maintained that 3 percent subvention on interest rate would be given on home renovation loans up to 2 lakh in the villages. While referring to the initiatives announced by the Prime Minister for the industrial sector, the Deputy Chief Minister said that the Credit guarantee for micro, small and medium enterprises will be raised from Rs 1 crore to Rs 2 crore. He said another important initiative announced by the Prime Minister is the provision of putting Rs 6000 in the accounts of pregnant women in 650 districts for vaccination and other medical uses. Dr Singh said similarly 3 and 4 percent subvention on the interest rate has also been announced on the home loans of an amount of Rs 9 lakh and Rs 12 lakh respectively which would largely benefit the urban poor. He said in order to benefit the senior citizens the interest rate on their saving up to Rs 7.5 lakh has been increased to 8 percent. The Deputy Chief Minister said that the initiatives undertaken by the Prime Minister for curbing corruption and bringing back the money which was outside the mainstream are revolutionary and we should all contribute our bit by supporting and strengthening these initiatives.
It is pertinent to mention that huge rush of people is witnessed at Aapshambu in Mahanal during 1stJanuary and on Mahashivratri in which devotees from different areas, states come to pay their obeisance.

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