Sonowal cabinet approves Rs 600 crore farm loan waiver, 19 lakh farmers across the Assam are expected to take the benefit of it.
The Assam government has approved debt relief scheme for the farmers of the state. The decision was taken in a cabinet meeting held in Guwahati yesterday headed by Chief Minister Sarbanand Sonowal.
The state cabinet decided to waive 25 percent of loan amount to the farmers. However the maximum relief per farmer would be capped at 25 thousand rupees. The cabinet also decided that a farmer could avail a Kisan Credit Card (KCC) loan at zero percent interest, informed Assam Government spokesperson and Parliamentary Affairs Minister Chandra Mohan Patowary.
The Cabinet also approved a farmers incentive scheme, under which 10 thousand rupees would be given to farmers having bad debts for taking loan under KCC.
The government has also sanctioned an interest relief scheme which will enable around 19 lakh farmers to take loans at zero interest from the next financial year, he said.
Due to these schemes, there will be an additional burden of Rs 600 crore on the state exchequer this fiscal. “For the next fiscal, we will have to do budgetary provision for the schemes,” Patowary said.
The cabinet also approved subsidy up to Rs 10,000 to incentivise farmers if they take loan from KCC.
“There will be interest relief scheme of up to four per cent for farmers. There will be interest relief from the state government so that farmers get crop loan at zero interest from next financial year,” Patowary said, adding that around 19 lakh farmers across the state are expected to take the benefit of it.
The cabinet decided to enhance the state Freedom Fighters’ pension from Rs 20,000 to Rs 21,000.
The meeting also approved the formation of a Micro and Small Enterprises Facilitation Council to help the growth of MSME sector in the state, the minister said.
The government also sanctioned Rs 32.72 crore loan from National Cooperative Development Corporation for revival of a jute mill at Nagaon, he added.