Moscow, May 8 (IANS/RIA Novosti): Russia's new President Vladimir Putin has instructed the government to adopt a number of social measures including significant reduction in mortgage loan rates, the Kremlin has stated.

He was sworn in Monday as Russia's president, starting his third term in the Kremlin following two consecutive terms from 2000 to 2008.

Putin has directed to reduce mortgage loan rates to 2.2 percent by 2018. He has also pushed for state measures to increase real wages 1.4-1.5-fold by 2018 and ensure the average lifespan in Russia must reach at least 74 year.

He has also instructed the government to set forth measures that will help give new homes to at least 60 percent of those families who want to improve their living conditions.

By the end of June, state scholarships for first-year and second-year students should be increased to the level of minimum living wages, he said in a decree.

The decree concerns students from poor families and those doing well in studies.

Putin also said that by 2016, pre-school education for children between three and seven years must become free of charge.