Interest rate zero: Farmers are now hero

Raipur:  In the state that leads in the field of paddy production, the hardworking farmers have become real heroes of agriculture, for now they have the facility of zero per cent interest on agricultural loans from this financial year 2014-15  as per the budget announcement of Chief Minister Dr Raman Singh.

Simultaneously, separate agricultural budget provisions, decreasing rates of interest on loans, and various grant schemes like free 7500 unit electricity for irrigation pumps of power upto 5 horse power, grant of Rs 75,000 per farmer for pump connections etc are also contributing to continuously increasing production of paddy in state.   Farmers, who earlier feared the strike of drought, are now all happy as monsoons have begun to shower lavishly. Farmers are also enthusiastically taking benefit of the zero interest loan facility being provided at cooperative societies. To provide zero interest agricultural loan facility to farmers, State Government’s Cooperatives Department has issued Interest Grant Rule 2014 on Cooperative Agriculture Loans. As per this rule, farmers associated to cooperative societies and banks are to provide facility of interest free short-term agricultural loan facility from April 1, 2014.  As per the provisions, farmers practicing animal husbandry, fishery and gardening crops will also be entitled for this interest-free loan facility.  As on July 31, more than 8 lakh farmers have availed this facility to take loans worth nearly Rs 1,889 crore 51 lakh from societies.

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