Kisan Credit Card: Farmers got agricultural loan of Rs 16 lakh crore, only 4 percent interest is charged

The central government has claimed that in the last one year, it has given loans of about Rs 16 lakh crore to farmers to advance agriculture and farmers. After returning from his Israel visit, Agriculture Minister Narendra Singh Tomar got an agreement between the United Nations Development Program (UNDP) and the Ministry of Agriculture to further strengthen the Kisan Credit Card and PM Crop Insurance in his presence. . Tomar said that small farmers are getting the benefit of KCC. So far, about 16 lakh crore rupees have been given to the farmers in the form of farm loans. More than two crore KCCs have been made during the crisis of Corona. Under KCC, farmers get loans up to Rs 3 lakh at a nominal interest of only 4 percent.

Tomar said that the goal is to make it easier for small farmers to take loans for agriculture through KCC. Animal farmers and fish farmers are also being given benefits by linking them with the KCC scheme. At present, farmers are expected to benefit from the agreement between the Union Agriculture Ministry and UNDP to make the Pradhan Mantri Fasal Bima Yojana and Kisan Credit Card, the modified interest subsidy scheme more effective. It was signed by Ritesh Chauhan, CEO, Crop Insurance Scheme and Ms. Shoko Noda, representative of UNDP.

What will be the benefit to the farmers

As per the MoU, this partnership will provide support for effective implementation of agricultural credit and crop insurance. Provide information, education, communication support and capacity development to existing national and state institutions. Tomar said that this agreement has been done keeping in mind the interests of the small farmers of the country. They will benefit from getting the support of the Project Management Unit (PMU). There is no role of middlemen in central schemes.

protection cover for farmers

The Union Agriculture Minister said that this partnership with UNDP is going on for the last three years, due to which the partnership has been extended for the next five years. This will also help the farmers to understand and use the importance of agriculture related financing and crop insurance. He said that PMFBY is a big security cover for the farmers of the country, which is benefitting a large number of farmers.

how much claim

So far, farmers have deposited about Rs 21 thousand crore as premium, while a claim of Rs 1.15 lakh crore has been given to them as compensation for the loss of crops. The government wants that no eligible farmer should be deprived of getting the claim, all the insured farmers should get compensation. Pradhan Mantri Fasal Bima Yojana has been made easier in the interest of farmers.