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PM Modi’s Demonetisation Move Brings Huge Relief for Farmers and Families Celebrating Weddings

The government on Thursday announced a new set of measures to ease the massive cash crunch after the sudden currency ban

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New Delhi, November 17, 2016: The government on Thursday announced a new set of measures to ease the massive cash crunch which followed after the sudden currency ban. Since November 8, the government announced several measures to reduce the pressure on people.

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Here are a few of the latest announcements made:

• The limit for exchanging the notes at the banks has been reduced to Rs. 2,000 from Rs. 4,500 for each person from Friday. Economic Affairs Secretary, Shaktikanta Das said that by this way more people would get a chance to exchange the old notes of Rs. 500 and Rs. 1,000.

[bctt tweet=”Notes swapping limited To Rs. 2,000 from tomorrow” username=””]

• Families can withdraw a maximum of Rs. 2.5 lakh for weddings but that is only from one account and based on self-declaration. This was necessary as because in the wedding season, the notes ban led to a severe crisis for those families who had withdrawn cash in bulk before the demonetisation or need cash for wedding purpose.

• “Crop loans are sanctioned by various banks to farmers. The government has allowed Rs 25,000 per week for farmers to draw in cash, subject to the limit of which crops they are sowing. This cash can also be taken from their Kisan credit card,” Das said.

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• Agri-Traders can withdraw up to Rs. 50,000 per week from their designated bank accounts to pay the expenses such as wages

• “Farmers who sell their produce in mandis, against the payments they receive by way of cheque or RTGS method (electronic transfers into their bank accounts), they can draw up to Rs 25,000 per week from their own account,”Das said.

• The time limit to pay the insurance premium on crop loan has been extended by 15 days.

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• Government employees will have the option to draw the salary advance in cash.

-by NewsGram team with inputs from agencies

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Diverse Gathering To be Adressed This World Biofuel Day: PM Modi

The Prime Minister will address the gathering on how biofuels can help reduce import dependency on crude oil and their contribution to a cleaner environment, generate additional income for farmers, and generate employment in rural areas

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Modi will be the chief guest for the inaugural session of the programme on Friday which is being held at Vigyan Bhawan by the Ministry of Petroleum and Natural Gas. Wikimedia Commons
Modi will be the chief guest for the inaugural session of the programme on Friday which is being held at Vigyan Bhawan by the Ministry of Petroleum and Natural Gas. Wikimedia Commons

Prime Minister Narendra Modi will address a diverse gathering here consisting of farmers, scientists, entrepreneurs, students, government officials and legislators to mark the World Biofuel Day 2018, a government statement said on Thursday.

Modi will be the chief guest for the inaugural session of the programme on Friday which is being held at Vigyan Bhawan by the Ministry of Petroleum and Natural Gas.

The programme would witness participation of sugarcane farmers, scientists, entrepreneurs in biofuels, students of agriculture, science and engineering streams, members of parliament, ambassadors, officers of Central and State government and companies involved in the bio-energy sector, said the statement.

The Prime Minister will address the gathering on how biofuels can help reduce import dependency on crude oil and their contribution to a cleaner environment, generate additional income for farmers, and generate employment in rural areas, it added.

The World Biofuel Day, which is being observed by the Ministry of Petroleum and Natural Gas for the last three years, is observed on August 10. IANS
The World Biofuel Day, which is being observed by the Ministry of Petroleum and Natural Gas for the last three years, is observed on August 10. IANS

Biofuels have synergies with various government initiatives, including enhancing farmers’ incomes, and Swachh Bharat, said the statement, adding, as a result of the efforts of the Centre, ethanol blending in petrol had increased to 141 crore litres in financial year 2017-2018, as compared to 38 crore litres recorded in financial year 2013-2014.

“The Government also approved the National Policy on Biofuels in June 2018,” the statement said.

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The World Biofuel Day, which is being observed by the Ministry of Petroleum and Natural Gas for the last three years, is observed on August 10 to create awareness about the importance of non-fossil fuels as an alternative to conventional fossil fuels. (IANS)