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Arunachal Pradesh to provide zero interest Crop Loan to Marginal Farmers of the state

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Itanagar, May 22, 2017: The Arunachal Pradesh government has decided to provide zero interest crop loan to marginal farmers of the state to enable them easy access to formal credit through banking channels, an official said on Monday.

According to a Finance Department notification of May 7, 2017, the government has decided to launch “Chief Minister’s Krishi Rinn Yojana”, under which it would provide interest subvention of 4 per cent on crop loan/Kisan Credit Card (KCC) limit up to Rs 3 lakh sanctioned by all banks to all farmers of the state during the current financial year.

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This interest subvention will be over and above the subvention given by the central government to banks and the farmers as per policy issued by the Reserve Bank of India and NABARD.

“The farmers would also get interest relief at the rate of 3 per cent per annum if they promptly repay their short-term production credit (crop Loan) within one year of disbursement of such loan. In effect, farmers who take loan up to Rs 3 lakh and make timely repayments will get access to zero interest credit facility,” the official said.

The NABARD will act as channel partner for reimbursement to banks against interest subvention amount claims.

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A certificate of area and crop being cultivated issued by circle officer will be accepted as valid documents by banks for issuance of Kisan Credit Card to the farmers, the notification said.

Benefit under the scheme will be extended to farmers availing KCC/crop production loan from commercial banks, APRB and APSCAB Ltd at the same terms and conditions prescribed by the RBI/ NABARD.

Chief Minister Pema Khandu has set a target of 7,500 farmers to be covered under the Chief Minister’s Krishi Rinn Yojana in this financial year.

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The district-wise or bank-wise target will be circulated separately to all District Collectors and concerned banks. This target will be reviewed later and any bank which fails to meet the stipulated target would be reported to the RBI and Department of Financial Services, he said.

Moreover, the circle officers will function as Financial Extension Officers of the state government and also help the banks in timely recovery of crop loans. (IANS)

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The Farmer’s Protest In Delhi Makes The Indian Police Take Severe Steps

The government has allowed police to “brutally beat up” the farmers, said the opposition Congress party.

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Farmer protests
Police use water cannons to disperse farmers during a protest demanding better price for their produce on the outskirts of New Delhi, India. VOA

Indian police on Tuesday fired tear gas and water cannons to halt and scatter a march by thousands of protesting farmers heading for the capital New Delhi to demand better prices for their produce.

Reeling from a crash in commodity prices, more than 50,000 farmers from the northern state of Uttar Pradesh, a top producer of wheat and cane, blocked part of the main highway to the capital.

They also sought loan waivers, cheaper power and tougher action to get sugar mills to pay dues owed for their cane, as discontent in rural areas turns to anger against Prime Minister Narendra Modi, who faces tough general elections next year.

“Despite our repeated requests, the government has failed to help farmers in any meaningful ways,” a farm leader, Dharmendra Malik, told Reuters by telephone from the protest site.

farmers
Police try to stop farmers during a protest demanding a better price for their produce on the outskirts of New Delhi, India. VOA

“Left with no choice, we’ve decided to march to Delhi to highlight our plight.”

Cash-strapped sugar companies owe cane growers about 135 billion rupees ($1.9 billion) in the current season. Saddled with huge piles of sugar and hit by a fall in prices, mills have said they are unable to pay farmers on time.

“The state government has initiated a number of steps to help farmers, including a clutch of measures to expedite cane payments to growers,” Uttar Pradesh Chief Minister Yogi Adityanath told video news agency ANI, a Reuters affiliate.

Mills are struggling to export sugar because of lower global prices, Adityanath said.

Television broadcast images of angry farmers clashing with police and driving their tractors into security barriers, in a protest that disrupted rush-hour traffic.

Farmers
Rural areas turns to anger against Prime Minister Narendra Modi. VOA

Some farmers were injured when police fired tear gas and water cannon to keep protesters from breaking through barricades to reach New Delhi, the site of events to mark the birth anniversary of India’s apostle of non violence, Mahatma Gandhi.

“It’s ironical that the farmers were brutally beaten on the day of Mahatma Gandhi’s birth anniversary,” opposition leader Rahul Gandhi said.

Farmers had started trickling into the city late on Monday, prompting authorities to bar gatherings of more than four people.

The government has allowed police to “brutally beat up” the farmers, said the opposition Congress party, which ruled India for most of its 70 years since independence from Britain, before losing power to Modi’s Bharatiya Janata Party.

Also Read: Asian Farms Tackle Drug Resistance with Apps and Dictionary

“Can India’s farmers not come and tell their own government that they are in deep pain?” asked Congress spokesman Randeep Singh Surjewala.

Modi’s rural woes have been worsened by a failure to deliver on a promise of tens of millions of jobs for young people that helped him win the largest mandate in three decades in 2014. (VOA)