Rajasthan: Farmers in Rajasthan will get a loan at 3% interest rate by mortgaging their produce, the state will bear 7% interest from farmer welfare fund. Chief Minister Ashok Gehlot on Friday approved proposals for providing a better value of the produce to the farmers, making easy and decentralized arrangements for the procurement and providing loans at a low-interest rate by keeping the yield intact.
An official release stated that the CM has decided to give a grant of Rs 50 crore every year to cooperative farmer welfare scheme from the farmer welfare fund. With this, farmers mortgaging their produce can get a loan at 3% interest rate, whereas state government will bear the 7% from the fund. Earlier the state government was bearing the interest rate of 2%. Under the scheme, farmers will be assessed on the basis of market value or support price of the produce they hold, whichever is lower, and 70% of the assessed amount will be made available as a mortgage loan. Small and marginal farmers up to Rs 1.50 lakhs and big farmers up to Rs 3 lakhs will be able to get loans at a rate of 3 %.
The farmers will be able to sell their agricultural produce at a reasonable price. The farmer will get this loan for a period of 90 days. In special circumstances, this limit will be up to 6 months. If the loan is repaid within the stipulated time, the farmer will get an interest grant. Only 3% interest will be charged from farmers by cooperative banks and societies instead of 11%. In order to secure the yield of farmers, this scheme will be implemented in those ‘A’ and ‘B’ categories of Gram Seva Sehkari Samiti, which are regularly audited, running in profit, NPA level is less than 10%.
Comments are closed.