Assam Agriculture Government Scheme

(Assam Government Scheme) Assam_announces_Rs_1,000 #crore_schemes_to_boost_farm_credit_Assam_announces_Rs_1,000-crore#schemes_to_boost_farm_credit.

Agrilearner App Team(Assam Government Scheme)

▪Assam has 27 lakh agricultural households spread across 26,000 villages which are covered by about 1,800 rural and semi-urban branches of commercial banks and regional rural banks.

?Assam will launch three schemes for farmers, including a partial loan reimbursement programme and another that will make crop loans effectively interest-free, aiming to give a fillip to the flow of agricultural credit.(Assam Government Scheme)

▪These schemes together will cost Rs 1,000 crore to the state government, finance minister Himanta Biswa Sarma said on Wednesday.

▪Launching of these schemes has nothing to do with the Lok Sabha elections in 2019 or the recent Agrilearner announcements of a debt waiver by Madhya Pradesh and Rajasthan, Sarma said, adding: “We have announced in the state budget 2018-19 about these schemes.”

▪Assam has 27 lakh agricultural householdsspread across 26,000 villages which are covered by about 1,800 rural and semi-urban branches of commercial banks and regional rural banks. However, it is seen that in a majority of cases, the flow of much-needed short-term agricultural credit to the farmers is clogged, he said.

▪The state cabinet has approved the Assam Farmers’ Credit Subsidy Scheme (AFCSS), 2018, under which the government will reimburse 25% of the loans taken or repaid by farmers this financial year, with a limit Agrimantra of Rs 25,000. This scheme will cover 4 lakh farmers and involve a financial outgo of Rs 500 crore.

▪Another is the Assam Farmers’ Interest Relief Scheme (AFIRS), which will extend support to farmers who are prompt in repaying their loans, by providing a 4% interest subvention on short-term crop loans up to Rs 2 lakh.

▪“This scheme will be aligned with the Government of India scheme under which prompt-paying farmers are extended a benefit on interest subvention of 3%. This effective rate of interest for a farmer in Assam accessing short-term crop loan up to a ceiling of Rs 2 lakh will be zero.”(Assam Government Scheme)

▪This scheme will cost the government exchequer Rs 200 crore and benefit 11 lakh farmers.