Crop Loan

The government is ensuring the distribution of short-term loans to the maximum number of farmers across the state

Agriculture and its allied sectors contribute over 28 per cent to the state's GSDP

Rajasthan Chief Minister Ashok Gehlot has approved a financial proposal of Rs 736 crore for interest-free crop loans to the farmers of the state. According to a statement, the chief minister has approved a grant of Rs 560 crore for farmers under interest-free crop loan subsidy scheme and Rs 176 crore under compensatory interest subsidy scheme. According to the statement, a five percent interest subsidy will be given to the farmers who repay the longterm agriculture cooperative loan on time. Gehlot has approved the grant proposal. He has also allowed permission to give subsidy on housing loans to the farmers who have built houses on their farms. Under this, the farmers who have repaid their long-term agricultural cooperative loans on time from April 1, 2014 will get a five percent interest subsidy every year from the state government. Along with this, from the financial year 2023-24, a five percent interest subsidy will be given every year to the farmers who have taken housing loans

In order to provide short term crop loans up to Rs 3 lakh to farmers at an interest rate of 7 per cent per annum, the government offers interest subvention of 2 per cent annually to banks

He said that several efforts have been made by the state government in the last three years to provide relief to the common man

Congress leader Rahul Gandhi on Thursday wrote to Finance Minister Nirmala Sitharaman urging the Centre to extend the moratorium on repayment of short-term crop loans of farmers to December 31

In a bid to support agri sector amid Covdi-19 crisis, NABARD on Thursday said it aims to disburse Rs 1.20 trillion crop loan to farmers for meeting production expenses this fiscal

Government sets up Rs 1 trillion Agri-Infrastructure Fund, which will focus on short-term crop loan and investment in long-term agriculture infra

This loan waiver comes over two years after the Rs 34,000 crore loan waiver announced by the then BJP-Sena government in 2017

The Maharashtra Police booked a case against the bank manager and the peon, who were later reportedly arrested from Amravati district

The ruling Bharatiya Janata Party on Thursday was forced to demand loan waiver for distressed farmers in the state legislature after its partner Shiv Sena and opposition Congress and Nationalist Congress Party stepped up pressure on the government for the same. Fearing an isolation on the issue, BJP legislators in the absence of chief minister Devendra Fadnavis in the state assembly, entered into the well and also climbed on the podium in front of the speaker's chair to press their demand.It was quite unusual that both ruling and opposition were shouting slogans for a common cause in the state assembly while members from the ruling and treasury benches in the state council also made a strong case for loan waiver to be announced by the government at the earliest. The state assembly and council were subsequently adjourned for the day.Shiv Sena's active role both in and outside the legislature was quite visible as the party legislators and some ministers were at the forefront to put BJP

Nabard has received Rs 400 cr and will bear the refinancing cost of co-operative banks

The last date of loan distribution is September 30

The govt has set an agricultural credit target for banks at Rs 9 lakh cr for the current financial year, up from Rs 8.5 lakh cr in 2015-16

Farmers will get short-term crop loans of up to Rs 3 lakh at a subsidised interest rate of 4 per cent this fiscal, provided they repay in time, or else a higher rate of 7 per cent will be charged. "The Central Government will provide interest subvention of 5 per cent per annum to all farmers for short term crop loan up to one year for loan up to Rs 3 lakh borrowed by them during the year 2016-17. Farmers will thus have to effectively pay only 4 per cent as interest. "In case farmers do not repay the short term crop loan in time they would be eligible for interest subvention of 2 per cent as against 5 per cent available above," said an official statement issued after the Cabinet meeting. The subvention scheme is applicable for all farmers availing short-term crop loans up to Rs 3 lakh for one year, Telecom Minister Ravi Shankar Prasad said. Interest subvention scheme is for public and private sector banks, in addition to cooperative banks, regional rural banks and .

The government had set the farm credit target of Rs 8.5 lakh crore for the 2015-16 fiscal and is believed to have exceeded the target