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 intention of accelerating manufacturing and earnings of farmers in agriculture and allied sectors. For the primary time within the state, 7 % curiosity subsidy can be given on well timed compensation of long-term agricultural loans. This grant can be given on well timed compensation of loans disbursed in the course of the 12 months 2024-25. Cooperative Minister Gautam Kumar Dak mentioned that 2 % further curiosity subsidy was introduced by the state authorities within the finances for the 12 months 2024-25, which has been carried out on precedence within the curiosity of farmers.
He mentioned that these farmers who’ve availed agricultural loans up to now and are repaying their loans on time, will get the advantage of 5 % 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 will even get the advantage of 5 % curiosity subsidy. He mentioned that via this scheme, by encouraging the farmers who pay their mortgage installments on time, the intention is to offer most mortgage amenities to the farmers as per their want. DC mentioned that this scheme can be relevant on well timed compensation 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 % curiosity subsidy. Thus, he must pay curiosity on the charge of solely 4 %. 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 be capable of improve productiveness by enhancing land. He mentioned that this can improve the earnings of farmers and cooperative banks will be capable of 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 charge of seven % this 12 months. In this fashion, as a substitute of Rs 107220, he must pay solely Rs 38989 curiosity on the charge of 4 %. 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 charge of 5 % this 12 months. Thus, as a substitute of Rs 418385, he must pay curiosity of solely Rs 172277 on the charge of three.50 %.
Agricultural mortgage could be taken for these functions:
New properly/tube properly, deepening of properly, pump set, sprinkler/drip irrigation, electrification, drain building, building of diggi/tank, tractor, agricultural equipment, thresher, mix harvester, energy tiller, land enchancment, land levelling, fencing, boundary wall, dairy , Purchase of agricultural land, building of grain/onion warehouse, inexperienced home, photo voltaic plant for agricultural work, animal husbandry, vermi compost, Sheep/goat/pig/poultry rearing, horticulture, camel/bullock cart buying, fish farming, 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 street transport, increased training mortgage, self-employment bank card, academic establishment mortgage, well being service, tourism service, info expertise mortgage and building of homes on farm.
