LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Modi's December 31 schemes to boost economic growth, if implemented effectively: Assocham

Sunil Kanoria, President of Assocham said, “The initiatives like 60-day interest waiver for farmers who have taken loans from district co-operative banks and primary societies together with additional fund of 20,000 crore given to NABARD to give loans to farmers would help in alleviating pains of farmers and rural class."

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Modi's December 31 schemes to boost economic growth, if implemented effectively: Assocham
Industry body Assocham termed PM Narendra Modi's various measures announced on December 31, 2016 as 'extremely positive for the Indian economy'. Photo: IANS
Written By: ZeeBiz WebTeam
Updated: Wed, Jan 04, 2017
11:05 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
COVID-19: Role played by Indian government in speeding up vaccine development, production - All you need to know COVID-19: Role played by Indian government in speeding up vaccine development, production - All you need to know
PM Narendra Modi says 'Tika Utsav' beginning of second big war on COVID-19 PM Narendra Modi says 'Tika Utsav' beginning of second big war on COVID-19
India leads US and China, administers 100 million COVID-19 vaccinations doses in 85 days India leads US and China, administers 100 million COVID-19 vaccinations doses in 85 days
PM Modi takes second dose of COVID-19 vaccine at AIIMS; Elated, memorable moment, say nurses PM Modi takes second dose of COVID-19 vaccine at AIIMS; Elated, memorable moment, say nurses
LIVE NOW: Pariksha Pe Charcha 2021: PM Narendra Modi is addressing - WATCH - There’s something for everyone LIVE NOW: Pariksha Pe Charcha 2021: PM Narendra Modi is addressing - WATCH - There’s something for everyone

Industry body Assocham termed PM Narendra Modi's various measures announced on December 31, 2016 as 'extremely positive for the Indian economy'. 

While addressing the nation on New Year's Eve, PM Modi announced many schemes like ensuring cheap credit to farmers, pan-India expansion for maternity benefit programme, Pradhan Mantri Awaas Yojana for home loan borrowers, increasing access to credit for SMEs and many more. 

Assocham suggested that the focus of Modi-led government should now be on effective implementation of these schemes to drive economic growth.

Sunil Kanoria, President of Assocham said, “The initiatives like 60-day interest waiver for farmers who have taken loans from district co-operative banks and primary societies together with additional fund of 20,000 crore given to NABARD to give loans to farmers would help in alleviating pains of farmers and rural class."

He added, "Schemes like interest subsidy on loans for low cost housing together with impetus to affordable housing will provide much needed help to vulnerable sections of society and revive consumer confidence amid largest, but poorest socio-economic group."

On credit guarantee to SME and MSME , Assocham's chief said,“ This will provide support to these sectors. The focus should now be on effective implementation of the credit insurance programme so that banks and NBFCs get their money in case of defaults faster than what it has happened in the past.” 

Credit guarantee for SME and MSME has been increased to Rs 2 crore.

Push towards low cost housing is taken as good news for retail portfolio of banks and NBFCs which have been struggling in driving their business in the midst of economic slowdown.

Lastly, he said, “Considering that post-demonetisation there has been a substantial surge in deposits, resultantly banks have started reducing interest rates and further rate cuts will only revive consumption demand and reinvigorate the investment cycle."
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Narendra ModiPradhan Mantri Awaas YojanaASSOCHAMFarmersNABARDSmall & Medium EnterprisesMSMEEconomyBanksNBFCsDemonetisation bank notesMaternity Benefit ProgrammePan-India
RELATED NEWS
COVID-19: Role played by Indian government in speeding up vaccine development, production - All you need to know COVID-19: Role played by Indian government in speeding up vaccine development, production - All you need to know
PM Narendra Modi says 'Tika Utsav' beginning of second big war on COVID-19 PM Narendra Modi says 'Tika Utsav' beginning of second big war on COVID-19
India leads US and China, administers 100 million COVID-19 vaccinations doses in 85 days India leads US and China, administers 100 million COVID-19 vaccinations doses in 85 days
PM Modi takes second dose of COVID-19 vaccine at AIIMS; Elated, memorable moment, say nurses PM Modi takes second dose of COVID-19 vaccine at AIIMS; Elated, memorable moment, say nurses
LIVE NOW: Pariksha Pe Charcha 2021: PM Narendra Modi is addressing - WATCH - There’s something for everyone LIVE NOW: Pariksha Pe Charcha 2021: PM Narendra Modi is addressing - WATCH - There’s something for everyone

LATEST NEWS

7th Pay Commission Latest News: 'Special Allowance' extended for These Central government employees

Sonu Sood tests positive for Covid 19

Alert! WhatsApp status flaw allows stalkers to track users online? Check all details here

Vivek, Tamil actor and comedian, passes away at 59 in Chennai hospital

GOOD NEWS! Modi Govt slashes Remdesivir MRP by half, with retro-effect—This is how much it will cost you now

SBI three-fold strategy for PPF, small saving schemes: Income tax rebate, Interest rates on deposits and more

IBPS admit card 2021 released—here is how you can download it from official website ibps.in

Punjab Board Exam 2021 Cancelled: CM Captain Amarinder Singh cancels exams for classes 5, 8 and 10, decision on PSEB class 12 board exams later - check all details here

J'khand HC grants bail to Lalu in Dumka treasury case; paves way for his release from jail

Rajini, Kamal, Mohanlal and many others mourn Vivek's demise

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved