Krishi Upaj Rahan Loan Yojana in Rajasthan
After Uttar Pradesh and Maharashtra, Rajasthan is the third BJP-led state in India that started farmers’ loan waiving scheme. A few days back the state government of Rajasthan has started the loan waiver scheme where up to Rs. 50, 000/- loan amount was waiving off for the farmers. In a recent time the government has started a new loan scheme namely Krishi Upaj Rahan Loan Yojana in which farmers can get short term loan against their produce.
The scheme namely Krishi Upaj Rahan Loan Yojana has been launched in the month of September 2017. It was announced by the Chief Minister of Rajasthan Smt. Vasundhara Raje while officially launched by Shree Ajay Kilak, the state cooperative minister in Rajasthan. Krishi Upaj Rahan Loan Scheme will be supervised by the State Cooperative Department in Rajasthan.
- The Scheme: The scheme is said to be Agriculture Produce Deposit Loan Scheme. Under this scheme farmers will get loan against their agricultural produce deposit.
- Objective: The main objective of the scheme is to provide equal price for all the produce harvested by the farmers in the state. The loan amount is different for different type of farmers; rich will get more loan as they have more produce than the small and medium ones.
- Aim: The scheme will be aimed at fulfilling the needs and requirements of each and every farmer across the state of Rajasthan. This is a short term loan scheme for their needs.
- Payback reward: Under this scheme whoever will repay the loan on time and on regular basis, will get additional 2% payback reward on the interest rate. In other language they will get 2% more subsidy on the interest payment.
- Surplus Resource: The state has also promised that apart from loan and subsidy on interest rate the farmers may get surplus resources for their farming as well. This was not clearly said that how they will get the resource benefit.
- Market Price and Profit: Those farmers who are unable to sell their produce at market price will be able to do that under the scheme. Small farmers will now earn more profit under Krishi Upaj rahan Loan Scheme.
- Categorization: On the basis of regular auditing the farmers will be categorised. Depending on the category the loan will be granted and interest subsidy will be given to the beneficiaries.
- Resident: The farmer must be the resident of the state. His voting rights / Aadhaar Card / Voter ID card must be from Rajasthan. Anyone who is not a permanent resident of Rajasthan will not be eligible for the scheme.
- Bank Account: The person / applicant will have to have a valid and active bank account to register under the scheme. The loan amount will be credited to the valid and active bank account only.
- Non-Profit Asses: Farmers who have non-profit asses of NPA less than 10% in total, they will be benefited from the scheme. They will get credit under this scheme.
- Loan Amount: As mentioned large farmers will get up to Rs. 3 Lac loan amount under this scheme. On the other small and medium farmers will get up to Rs. 1.5 Lac loan amount against their produce deposit. Overall according to the rule 70% of the total revenue of the produce will be provided as loan. The price of the produce will be decided on the basis of market price.
- Interest Rate: As per the rule of the scheme it has been said that the interest rate for loan scheme will be 11%. For the small farmers the interest rate may be lower than 11%. Also it has been declared that for the farmers who will repay the loan amount on regular basis will get interest subsidy of 2% additionally.
- Loan tenure: It is a short-term loan. The tenure of the loan is 90 days that is only 3 months. Within these three months the applicant must repay the loan. The tenure of loan under this scheme can be extended to 6 months that is 180 days if there is any special case.
Application forms are available in all the Gram Seva Samiti in several districts. Farmers will have to visit the gram seva samiti offices to collect the application form. They have to submit the filled up forms to the same office along with other documents on time. As of now no online process of applying for the scheme has been announced.
How to apply for the scheme
- The applicant has to visit the Gram Seva Samiti in his district and collect the form. The form must be filled up with correct and needful information about the farmer and his produce.
- Once the form is filled up, the applicant has to submit it to the same office. There are authorised officers appointed to supervise the scheme.
- They will guide the farmers further and process the forms. Once the processing is done, the loan will start sanctioning and crediting to the bank accounts.
http://www.rajasthan.gov.in/Pages/default.aspx this is the official web portal of the Rajasthan government. One can find the details about the scheme in this web portal.
Krishi Upaj Rahan Scheme will help the small farmers to earn profit unlike earlier times. With this scheme the small farmers will be able to get proper market price against their agriculture produce.