Prime Minister Narendra Modi has announced two housing schemes, tax incentives for small traders, interest rebate for farmers and monetary assistance for pregnant women.<br/><br/>In a special address on the eve of new year, Mr. Modi said under the Pradhan Mantri Awas Yojana 4 per cent interest waiver on housing loan up to 9 lakh rupees and 3 per cent on loan up to 12 lakh rupees will be provided in the urban areas. He announced three percent interest subvention on loan up to 2 lakh rupees for construction of houses in rural areas.<br/><br/>In a bonanza to farmers post demonetization, Mr. Modi said that the centre will pay interest for 60 days on loan taken by them for rabi season from district cooperative banks and primary societies. He also announced that the 3 crore 'Kisan Credit Cards' would be converted to RuPay Card within three months to help farmers purchase various inputs anywhere.<br/><br/>NABARD will be given an additional 20,000 crore rupees to finance district cooperative banks and societies. Rejecting the allegations that demonetisation has hit the crops, the Prime Minister mentioned that the Rabi sowing is up by 6 per cent as compared to last year while fertiliser offtake is also up by 9 per cent during this period.<br/><br/>In his nearly 45 minutes address, Mr Modi said all pregnant women will get an assistance of 6000 rupees to meet medical expenses. Senior citizens will get 8 per cent interest on deposits of upto 7.5 lakh rupees for 10 years. Prime Minister said banks have also been asked to raise cash credit limit to small business to 25 percent from 20 percent.<br/><br/>Mr. Modi said after the demonetisation 125 crore people have proved that for them truth and honesty are important despite inconveniences. He said the decision has laid the foundation of a bright future of the country as it caused deep infliction on black money, terror funding, human traffickers and counterfeit currency.<br/><br/>Meanwhile BJP has hailed Prime Minister Narendra Modi for the welfare measures and called them great step towards opening the avenues for the weaker sections of the country. BJP President Amit Shah said, the Prime Minister opened up avenues for poor, farmers and youth of the country after the record availability of money in the banks since Independence following the demonetisation.<br/><br/>However the opposition attacked the Prime Minister Narendra Modi saying that he failed to show sensitivity towards people's pain due to demonetisation in his address to the nation.<br/><br/>Congress Spokesperson Randeep Surjewala wondered that<br/>why the Prime Minister did not mention how many lakhs of crores in black money and fake currencies the government managed to wipe out through demonetisation in the last 50 days. He said, Mr Modi is not sensitive to people's pain as no relief from financial restrictions was announced despite widespread expectation.<br/><br/>The Left parties charged the Prime Minister with delivering a budget speech in view of forthcoming assembly polls. Party General Secretary Sitaram Yechury said, Mr Modi did not announce any compensation for daily wage earners, fishermen, agricultural workers who were hit hard by demonetisation.<br/><br/>Information and Broadcasting Minister M Venkaiah Naidu also welcomed the announcements. In a tweet Mr Naidu thanked Mr Modi for reducing interest rate on housing. He said, it is a big boost to housing sector amd big boon to the poor and middle class. <br/><br/>Talking about the involvement of some bank and government officials post demonetisation, the Prime Minister asserted that the serious offences have come to light and no one will be spared. He said law will take its own course against the illegal wealth holders but government's priority is that honest get protection and their difficulties are reduced.<br/><br/>Prime minister added that all concerned have been directed to restore normalcy in banking system, particularly in rural and far flung areas. He said the country's economy had cash circulation disproportionately higher than similar sized economies which had led to price rise and corruption and black money had crippled common man.<br/><br/>On electoral funding, Prime Minister Narendra Modi asked political parties to take steps to end black money in funding and corruption. He has sought a debate on holding Parliamentary and Assembly elections simultaneously and issue of rising costs in polls.Mr. Modi also said the fight against black money and corruption should not be stopped.