Jaipur: The state authorities has issued orders to implement the Interest Subsidy Scheme, 2024-25 on long-term cooperative agricultural and non-agricultural loans with the goal of accelerating manufacturing and revenue of farmers in agriculture and allied sectors. For the primary time within the state, 7 p.c curiosity subsidy can be given on well timed reimbursement of long-term agricultural loans. This grant can be given on well timed reimbursement of loans disbursed through the 12 months 2024-25. Cooperative Minister Gautam Kumar Dak mentioned that 2 p.c further curiosity subsidy was introduced by the state authorities within the price range for the 12 months 2024-25, which has been applied on precedence within the curiosity of farmers.
He mentioned that these farmers who’ve availed agricultural loans previously and are repaying their loans on time, such farmers will get the advantage of 5 p.c curiosity subsidy. The Minister of State for Cooperatives mentioned that for the primary time underneath this scheme, productive non-agricultural loanee farmers have additionally been included and benefited. Now farmers who repay productive non-agricultural loans on time may also get the advantage of 5 p.c curiosity subsidy. He mentioned that via this scheme, by encouraging the farmers who pay their mortgage installments on time, the goal is to supply most mortgage amenities to the farmers as per their want. DC mentioned that this scheme can be relevant on well timed reimbursement of agricultural and non-agricultural loans distributed via the Primary Cooperative Land Development Bank and Central Cooperative Banks of the state.
He mentioned that if a farmer takes an agricultural mortgage this 12 months underneath the Sahakar Kisan Kalyan Yojana via the Central Cooperative Bank and repays it usually, then he’ll get 7 p.c curiosity subsidy. Thus, he should pay curiosity on the fee of solely 4 p.c. He mentioned that this time a complete provision of Rs 39.75 crore has been made for curiosity subsidy. With the implementation of the scheme, farmers can be inspired for contemporary farming and can have the ability to enhance productiveness by enhancing land. He mentioned that it will enhance the revenue of farmers and cooperative banks will have the ability to present agricultural and non-agricultural loans to extra farmers.
The profit can be this a lot:
If a farmer takes a mortgage of Rs 10 lakh underneath the Sahakar Kisan Kalyan Yojana (Agriculture Loan) this 12 months and pays his installments usually, then he’ll get an curiosity subsidy of Rs 68231 on the fee of seven p.c this 12 months. In this manner, as an alternative of Rs 107220, he should pay solely Rs 38989 curiosity on the fee of 4 p.c. Similarly, if a farmer takes a mortgage of Rs 50 lakh underneath the Farm Housing Scheme (Agricultural Loan) and pays all his installments on time, then he’ll get an curiosity subsidy of Rs 246108 on the fee of 5 p.c this 12 months. Thus, as an alternative of Rs 418385, he should pay curiosity of solely Rs 172277 on the fee of three.50 p.c.
Agricultural mortgage could be taken for these functions:
New effectively/tube effectively, deepening of effectively, pump set, sprinkler/drip irrigation, electrification, drain building, building of diggi/tank, tractor, agricultural equipment, thresher, mix harvester, energy tiller, land reclamation, land levelling, fencing, boundary wall, dairy , Agricultural land buy, grain/onion warehouse building, inexperienced home, photo voltaic plant for agricultural work, animal husbandry, vermicompost, sheep/goat/pig/poultry rearing, horticulture, camel/bullock cart buy, pisciculture, silkworm rearing, jatropha plantation. , Beekeeping and all different functions underneath Sahakar Kisan Kalyan Yojana.
Non-agricultural mortgage could be taken for these functions:
Non-agricultural micro and small scale industries, service items, quick highway transport, greater training mortgage, self-employment bank card, instructional establishment mortgage, well being service, tourism service, info know-how mortgage and building of home on farm.
