Jharkhand Interest Free Farm Loan Scheme – 0% Rate for One Year for Farmers

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Jharkhand govt. has announced to provide Interest Free Farm Loans at zero percent interest rate to farmers, the state govt. is going to bear the entire interest of upto 1 year but the only condition is that the farmers must pay back the loan in 1 year

Dated: December 1, 2018 | Updated On: December 2, 2018 | By: Karan Chhabra | |
Jharkhand Interest Free Farm Loan Scheme

Jharkhand govt. has announced to provide Interest Free Farm Loans at zero percent interest rate to farmers. The state govt. is going to bear the entire interest of upto 1 year. The only condition is that the farmers must pay back the loan in 1 year. This announcement was made by the Mukhyamantri at Global Agriculture and Food Summit 2018 in Ranchi, Jharkhand.

CM also said that 50% subsidy would be given in the dairy sector to promote white revolution in the state. So, women must form SHGs and start dairy farming. Farmers must not depend on agriculture alone rather they should divide farming into 3 parts – cultivation, cattle rearing for dairy and solar farming on barren land.

These measures could raise the income of the farmers to upto 4 times. Moreover by the month of May 2019, a separate feeder line would be created for farmers.

Jharkhand Interest Free Farm Loan Scheme for Farmers

The official statement stated that “annadata will get loans on zero percent. Govt. will take care of the interests accrued in 1st year”. This scheme will only benefit farmers who will take fresh loans. Moreover, farmers must pay back their loans in the one year duration.

From next year, farmers will not have to pay any premium on fasal bima (crop insurance) from 2018. The state govt. will create separate lines for the industry, common people and agriculture so that the electric supply is evenly distributed to all sections. By August 2019, govt. will ensure 24*7 power supply in all villages.

From 2019, the state govt. will start free distribution of mobile phones to around 28 lakh farmers till 2021 which will enable them to cope up with the technological advancements.

CM also urges farmers to take up solar as well as organic farming to assure them that govt. will link them with appropriate markets. Jharkhand’s agriculture growth rate which was minus 4.5% in 2013-14 has today crossed over 14%.

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