Economic Package Round-II | FM Announces 63 Lakh Loans To The Tune Of Rs 86,600 Cr For Small Farmers

Union Finance Minister Nirmala Sitharaman, co-joined by the MoS Anurag Thakur and different finance ministry officers, briefed the media about measures and amenities supplied to the marginal farmers.

New Delhi: In a serious transfer to learn small farmers who suffered large financial losses as a result of Coronavirus lockdown, the Central authorities introduced that 63 lakh loans to the tune of Rs 86,600 crore amid the lockdown have been sanctioned by the central authorities.Union Finance Minister Nirmala Sitharaman, co-joined by the MoS Anurag Thakur and different finance ministry officers, briefed the media about measures and amenities supplied to the marginal farmers.

Sitharaman knowledgeable that about three crore marginal farmers have availed agricultural loans value over Rs Four lakh crore. These farmers, who availed the loans by the RBI, had been initially given an curiosity moratorium of three months, which has now been prolonged until May 31, 2020.

She additional listed that Interest Subvention and Prompt Repayment Incentive on crop loans, due from March 1, has been prolonged as much as May 31. Moreover, 25 lakh new Kisan Credi Cards have been sanctioned with a mortgage restrict of Rs 25,000 crore.

Here are different measures for liquidity assist to farmers and rural economic system:

i. 63 lakh loans of Rs 86,600 crore accredited in agriculture between March 1 to April 30

ii. Refinancing of Rs 29,500 crore supplied by NABARD to cooperative banks and regional rural banks in March 2020

iii. Support of Rs 4,200 crore supplied underneath Rural Infrastructure Development Fund to states throughout March 2020 for rural infrastructure

iv. Working capital restrict of Rs 6,700 crore sanctioned for procurement of agriculture produce to state authorities entities since March 2020

These bulletins come as a part of the second spherical of unveiling particulars of ‘Atmanirbhar Bharat Abhiyan’ value Rs 20 Lakh Cr. While interacting with the media, Finance Ministry introduced 9 new measures aiming to assist small farmers, merchants, road distributors and migrant employees who obtained the beating amid the COVID-19 induced lockdown.

The 9 initiatives introduced consists of three for to migrant employees, 1 for road distributors, 1 for small merchants, 1 associated to housing, 1 on self-employed folks and 2 associated to small farmers.

In the round-I of press briefings over the 20 Lakh Cr financial stimulus, Central authorities on Wednesday introduced 15 measures to push the economic system in direction of the betterment of the poor. Of the 15, 6 take care of MSMEs, 2 referring to EPF, 2 referring to NBFCs, housing finance companies and MFIs, 1 on discoms, 1 on contractors, 1 on actual property, and three on tax measures.

Leave a Reply

%d bloggers like this: