NEW DELHI: The govt’s intent to invest Rs 25 lakh crore to make stronger productivity of farm sector highlighted by means of President Ram Nath Kovind in his cope with to the joint sitting of Parliament on Thursday, was once in sync with the BJP’s election manifesto which promises infusion of the volume within the coming years as a part of the federal government’s effort to double farmers’ source of revenue by means of 2022. The birthday party’s different promise, in relation to interest-free loan on Kisan Credit Cards, would possibly discover a place within the Union Budget on July Five.
The large expenditure, officers in agriculture ministry mentioned, can be earmarked for quite a lot of ongoing schemes and the proposed ones by means of the inter-ministerial committee on Doubling Farmers’ Income (DFI) which advised 13 specific action points for reforms within the farm and allied sectors.
These 13 points include growing agricultural logistics gadget for post-production operations corresponding to produce aggregation, transportation and warehousing; agri-market intelligence gadget to help farmers take call for driven resolution; farmer-centric marketing infrastructure in rural spaces and construction of irrigation and micro-irrigation networks across the country.
These are, alternatively, the long and medium-term objectives. The ministry has, meanwhile, stepped up efforts to hurry up its ongoing programmes in a time-bound approach as a part of its 100-day plan.
Besides asking states to proportion verified record of possible beneficiaries beneath PM-Kisan (confident source of revenue make stronger scheme) by means of July 31, the ministry had ultimate week additionally requested them to launch village-wise or bank-wise force to bring minimum 1 crore farmers beneath Kisan Credit Cards (KCCs) scheme within the next 100 days.
“The move will help the federal government in imposing interest-free KCC loan as much as a certain quantity for a selected period on condition of instructed repayment,” mentioned an reliable, hinting that the announcement to this impact is also made within the upcoming budget by means of the brand new govt on July Five.
The BJP in its poll manifesto promised momentary new agriculture loan as much as Rs 1 lakh at zero% rate of interest for 1-Five years on the condition of instructed repayment of the principal quantity.
“There is a wish to building up the KCC footprints for any such scheme to get wider coverage. Its penetration is recently restricted to simply 6.95 crore farmers in opposition to 14.Five crore operational landholdings within the country,” mentioned an reliable.
The KCC scheme, presented in 1998, helps farmers avail credit from banks for purchase of seeds, fertilisers, insecticides and different production needs. The govt recently supplies interest subvention of 2% and instructed repayment incentive of three% to farmers, making the credit score to be had to them at 4% per annum.
In a evaluation assembly on the scheme ultimate week, Gujarat, Maharashtra, Uttar Pradesh, Chhattisgarh, West Bengal, Bihar, Jharkhand, Himachal Pradesh, Jammu & Kashmir and north-eastern states were recognized the place KCC penetration was once found to be poor as in comparison to Madhya Pradesh, Rajasthan and southern states.
“In order to extend the KCC footprints, the Indian Banks Association had just lately issued an advisory to all banks asking them to waive off processing, documentation, inspection, ledger folio charges and all different service charges for playing cards and crop loans as much as Rs 3 lakh — a move which would possibly save an estimated Rs 2,000 to Rs Five,000 of farmer who applies for KCC,” mentioned any other reliable.
The large expenditure, officers in agriculture ministry mentioned, can be earmarked for quite a lot of ongoing schemes and the proposed ones by means of the inter-ministerial committee on Doubling Farmers’ Income (DFI) which advised 13 specific action points for reforms within the farm and allied sectors.
These 13 points include growing agricultural logistics gadget for post-production operations corresponding to produce aggregation, transportation and warehousing; agri-market intelligence gadget to help farmers take call for driven resolution; farmer-centric marketing infrastructure in rural spaces and construction of irrigation and micro-irrigation networks across the country.
These are, alternatively, the long and medium-term objectives. The ministry has, meanwhile, stepped up efforts to hurry up its ongoing programmes in a time-bound approach as a part of its 100-day plan.
Besides asking states to proportion verified record of possible beneficiaries beneath PM-Kisan (confident source of revenue make stronger scheme) by means of July 31, the ministry had ultimate week additionally requested them to launch village-wise or bank-wise force to bring minimum 1 crore farmers beneath Kisan Credit Cards (KCCs) scheme within the next 100 days.
“The move will help the federal government in imposing interest-free KCC loan as much as a certain quantity for a selected period on condition of instructed repayment,” mentioned an reliable, hinting that the announcement to this impact is also made within the upcoming budget by means of the brand new govt on July Five.
The BJP in its poll manifesto promised momentary new agriculture loan as much as Rs 1 lakh at zero% rate of interest for 1-Five years on the condition of instructed repayment of the principal quantity.
“There is a wish to building up the KCC footprints for any such scheme to get wider coverage. Its penetration is recently restricted to simply 6.95 crore farmers in opposition to 14.Five crore operational landholdings within the country,” mentioned an reliable.
The KCC scheme, presented in 1998, helps farmers avail credit from banks for purchase of seeds, fertilisers, insecticides and different production needs. The govt recently supplies interest subvention of 2% and instructed repayment incentive of three% to farmers, making the credit score to be had to them at 4% per annum.
In a evaluation assembly on the scheme ultimate week, Gujarat, Maharashtra, Uttar Pradesh, Chhattisgarh, West Bengal, Bihar, Jharkhand, Himachal Pradesh, Jammu & Kashmir and north-eastern states were recognized the place KCC penetration was once found to be poor as in comparison to Madhya Pradesh, Rajasthan and southern states.
“In order to extend the KCC footprints, the Indian Banks Association had just lately issued an advisory to all banks asking them to waive off processing, documentation, inspection, ledger folio charges and all different service charges for playing cards and crop loans as much as Rs 3 lakh — a move which would possibly save an estimated Rs 2,000 to Rs Five,000 of farmer who applies for KCC,” mentioned any other reliable.
Interest-free loans on Kisan Credit Cards in this Budget?
![Interest-free loans on Kisan Credit Cards in this Budget?]()
Reviewed by Kailash
on
June 21, 2019
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