Maha Govt to invest Rs.4000 Cr with the help of World Bank to boost agriculture production
 Source : News Bharati English  Date : 17-Jul-2017

Mumbai, July 17: In order to boost agriculture production and provide higher remuneration to the Maharashtra farmers, the government plans to invest Rs.4,000 Crores in 15-drought hit districts of Maharashtra, said Chief Minister Devendra Fadnavis while talking over the show ‘Mi Mukhyamantri Boltoy.’

While addressing the farmers on the radio programme ‘Mi Mukhyamantri Boltoy’, CM Fadnavis also spoke about lowering the interest rate on crop loans provided by the financial institutions to the farmers. “We have prepared a Rs 4,000-Cr plan with the help of World Bank projects, which would be implemented in villages in 15 districts. We are working on making higher investments to increase the productivity and also provide agro-industrial infrastructure to provide higher minimum support price to the farmers,” said CM Fadnavis.

Further, the CM also spoke on initiatives of the state government in the farm sector post loan waiver. Highlighting the technological implementation in farming, CM added that “After the Rs 34,000-crore crop loan waiver to 89 lakh farmers, we are working on doubling the production of farm produce to help individuals earn more.” He said incentives would be provided to farmers to own technology and machines, which could be hired on low rentals by small and marginal farmers to enhance crop production in every field.

“Currently, the rate of interest for crop loan up to Rs 1 lakh is 0%. For crop loan between Rs 1 lakh and Rs 3 lakh, the interest rate is 2%. We are working to give more discount on the rate of interests for crop loans availed by the farmers from the financial institutions,” CM added.

Meanwhile, After Maharashtra promised to waive off loans for the genuine and marginal farmers, the special set of guidelines were chalked up to ensure that the benefits of the loan waiver scheme reach the farmers in an effective manner.