Jaipur, September 18: Rajasthan government recently gave a massive relief to each and every farmer of a state by waiving off their farm loans up to Rs. 50,000. But keeping an agenda of fulfilling the immediate needs of the farmers on top, the state government launched short-term agriculture loan scheme known as Agriculture Produce Deposit Loan Scheme or Krishi Upaj Rahan Loan Scheme.
Under newly launched Krishi Upaj Rahan Loan Scheme, small and marginal farmers will be provided with a loan of Rs 1.5 lakh on their produce deposits, whereas large-scale farmers will get Rs 3 lakh loan at 11 percent interest rate.
Interestingly, the loan will be provided for a time-period of only 90 days or can be said for three months which can be later extended to six months in special circumstances. However, those who repaying the loan in time will get 2 percent rebate on the interest.
The Cooperative Minister of Rajasthan Ajay Kilak said that Krishi Upaj Rahan Loan Scheme is launched mainly for the farmers so that they get the right price for their produce. He also stated that this loan will benefit farmers who do not have regular monthly income from agriculture work and earn by selling their yield.
This is a second important and effective step taken by Rajasthan government to give relief to the farmers of state within 2 weeks. Earlier, Vasundhara Raje led government announced on Wednesday last week to waive off all farm loans up to Rs 50,000 per farmer.