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Photo: File Photo Government gave good news to farmers

Union Finance Minister Nirmala Sitharaman presented the union budget on Saturday. During this, the Finance Minister made many big announcements for the farmers. The Finance Minister said that the limit of interest assistance scheme for Kisan Credit Card has been increased from Rs 3 lakh to Rs 5 lakh. He also said that the government will increase the loan guarantee cover for MSMEs so that loan access can be improved for them.

Loan will be available at a discounted rate

Explain that the Kisan Credit Card (KCC) scheme was launched to provide adequate and timely loan to the farmers for their agricultural work. This includes the interest assistance of 2% and early repayment incentives of 3%, so that they will be able to provide loans at a very concessional rate of 4% per year.

Fishermen and dairy farmers facility to take loan in short time

The scheme was initially launched in 2004 and was revised in 2012 to simplify and issue an electronic farmer credit card. At the same time, the Finance Minister today said that 7.7 crore farmers, fishermen and dairy farmers will get loan facility in a short time with Kisan Credit Card.

These farmers will get benefit

Farmers who are individual or joint borrowers and owners who are farmers, tenant farmers, oral lease and sharecroppers are all characters. In addition, farmers’ self -help groups (SHG) or Joint Liability Group (JLG), including tenants, sharecroppers etc., are also eligible for this scheme.

Help will be found in transactions with mandis

The objective of the KCC card is to help the farmers to conduct uninterrupted transactions with the input dealers. When they sell their products on mandis and procurement centers etc., sales income is deposited in their accounts.

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