Zero percent Interest Loan Scheme for Farmers in Gujarat-Loans upto Rs. 3 Lakh

Published Date - 07 December 2017 04:56:16 Updated Date - 07 December 2017 05:00:55

Ahead of state assembly polls, the Gujarat government has announced it will provide farmer  loan up to Rs 3 lakh at zero percent interest, a move that will benefit around 25 lakh farming families.

At present, Gujarat has a 7 percent interest on farm loans, of which 3 percent interest relief is given by the Centre, while 3 percent relief is provided by the state government, bringing the effective interest rate to be paid by farmers at 1 percent.

The state government of Gujarat has announced zero percent interest loan scheme for the state farmers. Under the scheme, the state government will be providing loans to state farmers at 0% interest rate. Loans up to Rs. 3 Lakh would be provided under the scheme. The scheme was announced by the state govt. at Gujarat Gaurav Mahasammelan at Gandhinagar on 16th October 2017.

Earlier, the government was providing farm loans of up to Rs. 3 Lakh at effective interest rate of 1%. Out of the 7% of interest rate, 3% was being borne by the state and 3% by the central govt. but now, the additional 1% will also be borne by the state government to bring down the effective interest rate to zero.

The scheme will cost the state about Rs. 700 Crore per annum. The scheme will benefits about 25 Lakh farmers in the state. About 3 weeks ago, the Gujarat state government also announced to procure groundnut at Rs 900 per 20 kg against the market price of Rs 600-650.

Zero Interest Farm Loan Scheme

The scheme of providing farm loans at subsidized interest rates is already going on but the government has not issued any detailed guidelines about it.

However, once implemented, the scheme will prove to be of a great help for the state farmers. The scheme will further reduce the burden of interest from the farmers and will help them increase their income and eventually the income and living standard.

 

Gujarat Polls: A Battle of Pride

BJP chief Amit Shah termed the upcoming Gujarat Assembly polls a "battle of pride" for the ruling party and exhorted the workers to ensure an improved tally of 150 seats over the 129 it won in 2002 under the then chief minister Narendra Modi.

Shah slammed the Congress and asked BJP cadres to completely “root out” the party from the prime minister's home state.

Speaking before Shah, Modi praised his trusted lieutenant as the “man of the match” for the BJP's victory in the 2014 elections and also in the assembly polls held in Uttar Pradesh this year.

The BJP president urged his party cadres to not sit idle and reach out to every citizen after Diwali to ensure a landslide victory.

He appealed to BJP workers to ensure that the party wins three-fourth majority in the polls, due in December this year.

“This is a battle of pride for us, as we want nothing short of three-fourth majority. As your president, I urge all party workers to give your 100 per cent. Do not sit idle after Diwali. I urge you to reach out to each and every citizen and spread Modiji's message of development,” Shah said while addressing "Gujarat Gaurav Mahasammelan".

 

The rally was held a day after the conclusion of the party's 'Gujarat Guarav Yatra' aimed at mobilising public support ahead of the Assembly polls.

Noting that a two-third majority will not suffice this time, Shah recalled that the BJP had secured 129 seats when Modi was chief minister in 2002. “And now, when he is our prime minister, we must make and all-out bid to clinch 150 seats (out of the 182 in the Assembly),” Shah said.

He accused the Congress of showing "fake" concern for Gujarat without naming Congress vice president Rahul Gandhi who has been addressing rallies in various parts of the state and visited a number of temples.

 

Complete details information about the scheme would be available only after it is officially launched.

STAY TUNED for latest updates about Gujarat Government Schemes.

 


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