State govt now plans to take this figure to `75,000 crore in the next 1.5 years, says CM Raje during GRAM in Udaipur
In last three and a half years, interest free loans of Rs 57,000 crore has been given to farmers in Rajasthan. The State Government now plans to take this figure to Rs. 75,000 crore in the next 1.5 years. This was stated Chief Minister Vasundhara Raje on Tuesday at the inaugural session of Global Rajasthan Agritech Meet (GRAM) in Udaipur.
The chief minister speaking at the CTAI college ground during the 3rd GRAM summit said that the interest rate of land development banks and cooperative banks is also being continuously reduced and will soon be as low as 5.5%.
The farmers who take these loans will also be given an insurance cover under the cooperative sector Bima Yojna of Rs. 6 lakh and will soon be increased to Rs. 10 lakh.The premium amount for Bima Yojna is Rs. 55 annually, out of which the farmer only has to contribute Rs. 27.50. The remaining amount will be contributed by the district cooperative banks.
Highlighting the future plans of the State Government for the benefit of the farmers, Raje said that the Rajasthan Agriculture Marketing Board has designed a scheme for farmers wanting to become entrepreneurs. Under this scheme, incentives are offered to the farmers for the construction of processing units on their agricultural land. These units are eligible for 50% subsidy of the capital cost or Rs. 20 lakh, whichever is less.
In addition to this, a separate fund of Rs 100 crore has also been made for milk unions to benefit as many as 9 lakh milk producers. Besides, 2,652 custom hiring centres will be set up in the next three years, the chief minister said.
Union Minister of State, Agriculture and Farmers Welfare, Gajendra Singh Shekhawat said that by being one of the first states to formulate policies and take steps towards the vision of doubling farmers’ income, Rajasthan has set an example for the entire nation. Despite many challenges in the state, the contribution of Rajasthan’s farmers to the Gross Domestic Product is 30%.
Other sops
The farmers who take these loans will also be given an insurance cover under the cooperative sector Bima Yojna of Rs6 lakh and will soon be increased to Rs10 lakh.
The premium amount for Bima Yojna is Rs55 annually, out of which the farmer only has to contribute Rs27.50. The remaining amount will be contributed by the district cooperative banks.
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