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Maharashtra proposes interest-free crop loans
Wednesday March 23, 2011 09:11:16 PM,
IANS
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Mumbai: Maharashtra
farmers will get crop loans without interest and at subsidised
interest, state Deputy Chief Minister Ajit Pawar, who also holds
the finance ministry portfolio, proposed in his annual budget for
2011-12 Wednesday.
According to the proposal, farmers who repay their crop loans
within the stipulated period can avail interest-free loans for
amounts up to Rs.50,000 and at 2 percent interest for amounts
between Rs.50,000 and Rs.300,000, Pawar said while presenting the
budget.
He also announced a provision of Rs.84.28 crore for the payment of
the interest subsidy under this scheme.
Pawar said that since the past three years, the government has
been maintaining buffer stocks of fertilisers, which are made
available to the farmers as per need.
This scheme shall be continued during the next kharif (harvest)
season also and a provision of Rs.51.50 crore has been made for
the purpose.
The budget also proposed a subsidy of Rs.2,500 crore for providing
electricity to 3.1 million agricultural pumps in the state to help
augment the income of the farmers.
By the end of the current fiscal, the electric connection will be
provided to 275,000 agricultural pumps and efforts are underway to
achieve power connection on demand from April onwards, the
minister said.
In order to speed up programme of electrification of agricultural
pumps and clear the backlog, Pawar announced a provision of Rs.80
crore during next year.
Reacting to the proposals, a Vidarbha Jan Andolan Samiti (VJAS)
leader said that the decision to give zero and 2 percent interest
rate loans is "a welcome step".
However, this could be availed only by farmers who are prompt in
repayment, VJAS president Kishor Tiwari added.
For the over three million debt-trapped farmers not covered by
banks who are forced to borrow money from private sources and
local money-lenders, Tiwari urged for a bail-out package which
would help end farmland suicides, especially in Vidarbha region of
eastern Maharashtra.
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