Rajasthan government extends 5% subsidy scheme on agri-loans from Bhoomi Vikas Banks

The Rajasthan government has extended the five per cent interest subsidy scheme till June 30, 2021, for repayment of long-term agricultural loans taken from Primary Cooperative Bhoomi Vikas Banks. A proposal has been approved to allocate an additional budget of Rs 9.45 crore for the extended duration of the scheme, an official statement said.

Chief Minister Ashok Gehlot has approved the proposal by the Cooperative Department under which a five per cent subsidy on interest given to farmers on repayment of regular instalment of long-term loans from Primary Cooperative Bhoomi Vikas Banks has been extended till June 30, 2021. Earlier, the deadline was March 31, 2021.

Farmers who suffered crop damage due to heavy rains and hailstorms have not been able to take advantage of the scheme in various districts due to the COVID-19 pandemic.

According to the statement, the chief minister has decided to extend the duration of the scheme till June 30 to give the benefit of interest subsidy to more farmers.

The period for repayment of short-term crop loans disbursed by the Cooperative Department for the Kharif season 2020 has also been extended from March 31 to June 30, 2021.

These decisions of the state government in the critical times of the pandemic will provide relief to a large number of farmers in repayment of agricultural loans and payment of instalments.