You are here: Home » Interim Budget 2019 » News
Business Standard

Budget 2019: 2% interest subvention for farmers hit by natural calamities

Further, the finance minister said the government will provide Rs 750 crore to support animal husbandry and fishing

Railway Budget  |  Farmers  |  Farm Loan

Press Trust of India  |  New Delhi 

farmers, farming, agriculture

Seeking to address distress in farm sector, Finance Minister Piyush Goyal Friday announced a 2 per cent interest subvention for hit by natural calamities, while offering 3 per cent more to them for timely loan payment.

Goyal, who stepped in to present the budget for 2019-20 in the Lok Sabha in place of indisposed Arun Jaitley, also said also announced 2 per cent interest subvention for involved in and fishery.

hit by natural calamities will get 2 per cent interest subvention and 3 per cent more on timely repayment of loans, he said.

Further, the finance minister said the government will provide Rs 750 crore to support and .

He also said the government has fixed MSP for 22 notified crops at 50 per cent higher than cost of production.

ALSO READ: Interim Budget 2019: In a first, defence allocation crosses Rs 3 trillion

There is need for structured income support for poor, landless farmers to meet input cost, the FM said, adding that the government will also implement special strategy for uplift of nomadic tribes.

ALSO READ: Interim Budget 2019: Rural road construction trebled under PMGSY, says FM

He said pension scheme for unorganised sector workers will be implemented from this fiscal.

High growth, formalisation of the economy has resulted in increased EPFO membership by 2 crore in last two years, he noted.g

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, February 01 2019. 12:30 IST