The state government of Rajasthan has launched Krishi Upaj Rahan Loan Scheme (Agriculture Produce Deposit Loan Scheme) for the farmers. The objective of the scheme is to provide fair price of their agriculture produce in the state.
Under Krishi Upaj Rahan Loan Scheme, government will provide Rs. 1.5 lakh for small and marginal farmers on their produce deposits. In addition, farmers of large scale will get Rs. 3 lakh as loan at 11 per cent interest rate. The aim of scheme is to provide short term loan facilities for farmers.
Krishi Upaj Rahan Loan Scheme
The short term loan under Krishi Upaj Rahan loan scheme will be provided of 90 days but it can be extended to six months in special circumstances. Moreover, the farmers repaying the loan on time will get 2 percent discount on the interest. The intention of scheme is to full-fill the immediate needs of farmers’ family.
State government is taking several measures to increase the credit flow and bringing more farmers including small and marginal farmers within financial inclusion. The farmers will be evaluated on the basis of the market value of the product kept by them, whichever is less and 70 percent of the amount will be made available as a loan.
Since the farmers do not have a regular monthly income, the government is taking several initiatives to provide financial assistance to farmers in the times of crises. Under Krishi Upaj Rahan Loan Scheme, state government would provide loan at subsidized rates of interest to provide a better life to the farmers of the state.