Farmers to get cheaper loan from co-ops

MUMBAI:
Goodies go on to flux in for farmers. If the poll-bound UPA can denote a
massive loan write-off, how can the Congress-NCP authorities in the state stay
behind? Those husbandmen who have got paid off their debt in clip can now look forward
to a much-reduced rate of involvement on their fresh loans. The proclamation to
this consequence was made by finance curate Jayant Patil on
Wednesday. Mister Patil announced inch the legislative assembly that husbandmen who
apply for loan up to Rs 25,000 from the three-tier co-operative construction in the
state would acquire a subsidy of 4% in the charge per unit of interest. This subsidy would help
them help loan at 2% effectual charge per unit of interest, as the Centre have announced
farm loans at 7% charge per unit of involvement since 2007 and the state have offered a
concession of another 1%. Farmers pickings loans in extra of Rs 25,000 but less
than Rs 3 hundred thousand would be eligible for a 2% cut in the charge per unit of
interest. Mister Patil told the Assembly that the state authorities had
made a budgetary proviso of Rs 63.64 crore for the adjacent financial to bear the
cost of this involvement subsidy. The state have also put aside Rs 204 crore for the
co-operative lending establishments to settle down all outstanding claims under this
scheme. “I am confident that the husbandmen repaying the loans of the
co-operative bodies would be enthused by this decision,” Mister Patil
said. Under the alleviation measurements announced by the premier curate for
Vidarbha farmers, the authorities have waived involvement amounting to Rs 828 crore
on rescheduled principal of farm loan in 2006-07 and 2007-08. This strategy was
announced for six territories of Vidarbha coverage highest figure suicides. The state have borne a share of Rs 414 crore in this scheme. In
2007-08, the state authorities provided Rs 130 crore to ease farm loan
disbursal at a subsidised 6% charge per unit of interest. “This strategy will be
continued in 2008-09 with particular cut on charge per unit of involvement for husbandmen who have
paid their debt as per schedule,” Mister Patil added.