Cooperation Minister Uday Lal Anjana informed that the state government has taken a big decision in the interest of farmers and has implemented a scheme of grant of 5 percent interest rate for the tenants taking long-term agricultural loans. Now the farmers who repay the loan on time will be able to get the loan at 5.15 percent interest rate. This scheme will remain in force till March 31, 2023.
Anjana informed that this scheme will be applicable on loans taken from cooperative land development banks for long term. He said that this interest rate is the lowest rate charged by any commercial bank. He said that the farmers needed credit the most for agricultural work, but due to the high rate of interest, the farmer had to face trouble in paying the interest and there was a hindrance in the agricultural work.
The Cooperation Minister said that Chief Minister Ashok Gehlot has taken a decision in the interest of farmers and it has been implemented from April 1, 2022. All the farmers who have taken loan in the period from April 1, 2022 to March 31, 2023 will get the benefit of the scheme. He said that long term agricultural loan is payable at an interest rate of 10.15 percent and relief has been provided to the farmers who repay the loan on time by giving them a grant of 5 percent interest rate. PLC>