The government on Thursday addressed concerns of the farmers who are facing a hard time amid the coronavirus crisis in the country. Union Finance Minister Nirmala Sitharaman, who addressed a press conference to share details of the economic package, announced ₹30,000 crores Additional Emergency Working Capital Funding through NABARD. It will extend the additional refinance support of ₹30,000 crores for crop loan requirements of rural co-op banks and RRBs. The finance minister also announced Rs 2 lakh crore concessional credit boost to 2.5 crore farmers through Kisan Credit Cards.
₹30,000 crore Additional Emergency Working Capital Funding: DETAILS
- This is over and above ₹90,000 crores to be provided by NABARD through the normal refinance route during this year.
- Front-loaded on-tap facility to 33 state co-operative banks, 351 district co-operative banks and 43 RRBs available on tap based on their lending
- To benefit around 3 crore farmers - mostly small and marginal farmers
- To meet post-harvest (Rabi) and current Kharif requirement in May/June
₹2 lakh crore concessional credit boost to 2.5 crore farmers through Kisan Credit Cards: DETAILS
- Special drive to be undertaken to provide concessional credit to PM-KISAN beneficiaries through Kisan Credit Cards
- Fishermen and Animal Husbandary farmers will also be included in this drive
- This will enable such farmers to gain access to institutional credit at a concessional interest rate
- 2.5 crore farmers will be covered and will benefit from the credit flow of about Rs 2 lakh crores.
Latest Business News
