Interest-free loans for K’taka farmers | India News

BENGALURU: A farmer taking a new crop loan of up to Rs 3 lakh from any cooperative bank in the state won’t be charged interest. However, the government is yet to decide whether to extend the benefit to all farmers or only small and marginal ones.
The decision was taken at a review meeting chaired by chief minister BS Yediyurappa, which was attended by cooperation department officials. The government will come out with the guidelines sometime next week. “About 24.5 lakh farmers will benefit from the extended scheme,” said a senior department official.
According to the senior official, the decision was taken to encourage pandemic-hit farmers to take up agricultural activities in the upcoming Kharif season. The interest-free loan package is estimated to be Rs 15,000 crore.
“We are still debating whether interest-free loans should be extended to all farmers, including those who pay IT returns, or only to small and marginal ones,” officials said.

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