Rajasthan government will provide loans to farmers at 3% interest rate from June 1. Distribution of crop living loans will start simultaneously in all the districts of the state. Under this, farmers will be able to get loans at the rate of only 3% interest on pledging their crops. The government will bear 7 percent interest rate of this loan. For this, a grant of Rs 50 crore will be given every year by the state government in the Farmers Welfare Fund.
State Cooperative Minister Udai Lal Anjana informed that the loan will be disbursed through 4 thousand village service cooperative societies. Small and marginal farmers will be given a loan of Rs 1.50 lakh and big farmers will be given a loan of Rs 3 lakh. Under this, the farmer will get a loan of 70 percent of his produce and the farmer will be able to sell the crop when the market gets good prices.
The immediate financial needs of farmers will be fulfilled by getting this loan. While this scheme will be able to utilize the vast network of the Cooperative Department, the direct linkage of the farmers with the grant of subsidy will be further strengthened. The intention of the state government is to help the farmers by giving Rs. 2 thousand crores as living loan every year.
