New Year gifts announced by the Prime Minister
On the eve of the New Year, Hon’ble Prime Minister Shri Narendra Modiji in his address to the nation announced a number of relief and welfare measures for different sections of the populace in bounty. Interest subvention of 3% for loans upto Rs.12.00 lacs and 4% for loans upto Rs.9.00 lacs under the Prime Minister Awas Yojana brought cheers notably for poor. This decisive measure is meant for low cost housing in both the urban and rural areas.
The Credit Guarantee Scheme for SMEs has now been increased from Rs.1.00 crore to Rs.2.00 crores, including non-banking financial companies. This measure is intended to help small borrowers to avail of more funds from banks and other financial institutions at lower rate of interest. Loan write-off for famers is most welcome. Direct credit of Rs.6000/- into the Bank A/Cs for the pregnant women and bank deposits attracting a competitive rate of 7.5% for a period of 10 years for senior citizens are other positive initiatives declared by the Prime Minister.
Demonetization is expected to mobilize substantial revenue for the Govt. by way of additional taxation, which could undoubtedly be utilized for the above social security measures offered by the Prime Minister. It is expected that the economy would also go northward in the coming years. In this direction, the new measures are most welcome.
Convention on Colorants-2017 (COC17)
By the time this issue reaches you, you might have all received the updated brochure with details of the speakers and their topics for COC-17, which we are sure you will appreciate. We urge upon all those members and others who have not yet registered as delegates for the event to do so immediately to avoid last hour rush, as the list is fast filing up.
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