PM's Announcements Will Enhance Economic Activities: Jaitley
NEW DELHI: The slew of measures announced by Prime Minister Narendra Modi will enhance economic activities and pave way for "cleaner and bigger GDP", Finance Minister Arun Jaitley said today.
In a series of tweets, Jaitley said: "PM's announcements will enable a cleaner & bigger GDP...PM's announcements will enhance economic activities".
Referring to the sops announced for different sectors, he said agriculture, MSME and housing segments will get a fillip.
The Finance Minister, who will be presenting the budget for 2017-18 in February, also said the government is committed to cleansing political funding.
On the announcement of fixed 8 pct interest rate on 10-year deposits up to 7.5 lakh for senior citizens, Jaitley said it is "great news".
In his address to the nation, Modi said home loans in urban areas up to 9 lakh and 12 lakh will receive interest subvention of 4 pct and 3 pct, respectively. Also, in rural areas home loans up to 2 lakh will get interest rebate of 3 pct.
Modi also said government will bear 60-days interest burden on farm loans taken for rabi crops and also doubled Nabard funding corpus to 41,000 crore.
All 3 crore Kisan Credit Cards holders will be given RuPay debit cards, he added.
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