Kisan Credit Card Scheme Lifeline For Indian Farmers, Says FM Nirmala Sitharaman; Provides Seeds, Fertilizers & Pesticides

Kisan Credit Card Scheme Lifeline For Indian Farmers, Says FM Nirmala Sitharaman; Provides Seeds, Fertilizers & Pesticides

“Under the leadership of Prime Minister Narendra Modi, the Kisan Credit Card (KCC) has become a lifeline for millions of farmers,” Nirmala Sitharaman's Office stated on X. The scheme has led to “easy access to short-term crop loans”. A prompt repayment incentive of 3 percent is also being provided to farmers on timely repayment of loans, which effectively reduces the rate of interest to 4 percent.

IANSUpdated: Saturday, June 07, 2025, 01:47 PM IST
article-image
File Image |

New Delhi: Kisan Credit Card (KCC) scheme a lifeline for millions of Indian farmers, said Finance Minister Nirmala Sitharaman on Saturday.KCC is a banking product that provides farmers with timely and affordable credit for purchasing agricultural inputs such as seeds, fertilisers, and pesticides, as well as for meeting cash requirements related to crop production and allied activities.

In a post on social media platform X, along with an infographic, Sitharaman said “Over 465 lakh applications have been sanctioned with Rs 5.7 lakh crore credit limit”.

“Under the leadership of Prime Minister Narendra Modi, the Kisan Credit Card (KCC) has become a lifeline for millions of farmers,” Nirmala Sitharaman's Office stated on X.The scheme has led to “easy access to short-term crop loans”.

About Rs 5.7 lakh crore have also been sanctioned in credit, with “interest as low as 4 per cent with timely repayment” the post added.With the KCC scheme, farmers can get up to Rs 3 lakh loan at just 4 per cent interest, if repaid on time.

An additional Prompt Repayment Incentive of 3 per cent is also being provided to farmers on timely repayment of loans, which effectively reduces the rate of interest to 4 per cent for farmers. Thus, for every one lakh KCC loan, farmers can save up to Rs 9,000 in interest per year.

The government has also increased the subsidised KCC loan limit from Rs 3 lakh to Rs 5 lakh, benefiting approximately 7.7 crore farmers, including fishermen and dairy farmers.

Further, the Financial Minister also lauded the government under PM Modi for increasing the Agriculture Budget and launching various schemes that cater to the welfare of farmers in the country.

“From just Rs 21,500 crore in 2013 to Rs 1.22 lakh crore in 2024, the Agriculture Budget has seen a more than 5X rise, reflecting Prime Minister Narendra Modi-led government's commitment to its farmers and their welfare,” said Sitharaman's Office on X.

Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.

RECENT STORIES

Torrent Pharma Q1 Net Profit Up 20% At ₹548 Crore

Torrent Pharma Q1 Net Profit Up 20% At ₹548 Crore

Gold Declines ₹500 To ₹98,020/10 Grams; Silver plunges ₹1,000

Gold Declines ₹500 To ₹98,020/10 Grams; Silver plunges ₹1,000

Ajanta Pharma Q1 Profit Rises 4% To ₹255 Crore On Strong Growth In Branded Generic Sales

Ajanta Pharma Q1 Profit Rises 4% To ₹255 Crore On Strong Growth In Branded Generic Sales

India's Industrial Growth Slows To 10-Month Low of 1.5% In June 2025 Amid Mining, Power Slump

India's Industrial Growth Slows To 10-Month Low of 1.5% In June 2025 Amid Mining, Power Slump

Transport Corporation Of India Q1 PAT Up 19%, Revenue Rises To ₹1,034 Crore

Transport Corporation Of India Q1 PAT Up 19%, Revenue Rises To ₹1,034 Crore