Zero Interest Crop Loan Scheme Assam
Each and every state of the nation should give proper importance to the farmers. As a matter of fact, the Assam state government has introduced the Zero interest crop loan scheme to the state farmers. The farmers should utilize this scheme and they have to develop agriculture. A loan amount of Rs.1 lakh has been provided to the farmers and for this, the state government has allocated Rs.25 Crore in the budget of 2017-18.
Reasons to implement this crop loan scheme to the farmers:
In the rural regions, this scheme has been proposed by the Assam Finance Minister Himanta Biswa Sharma. This scheme mainly encourages the farmers to develop the agriculture just by availing loans with a low credit flow by the state government. They are provided with zero rate interest and this creates the scope of expanding the credit flow in the rural regions.
Vision of PM about this zero interest loan scheme:
The credit uptake by the farmers has been encouraged by this scheme. Hundred percent interest subventions are offered in the Zero Interest Crop Loans for up to 1 lakh. The minister also said that Assam is the first state to launch this type of scheme to the farmers. This scheme is also known the CM’s Samagra Gramya Unnayan Yojana which comprises a total budget of Rs.30 Cr. It is a five year mission which will be culminated in the year 2021-22. The vision of PM is to increase the agricultural income. As a matter of fact, this scheme has introduced at zero rate interest for the benefit of the farmers.
Agricultural Development for improving the nation’s income
The Assam minster said that it is such a transformative intervention for driving the agricultural loans. One time incentive of Rs.3000 is given to the inactive Kisan Credit Card which has to be renewed as per the budget. As per the record, 80 percent of such cards are inactive but proper credit flow has to be done to the farmers in it. The Central Government has proposed the budget for 100 percent reimbursement in the stamps or transfer duty.
- The incentive package is very much attractive and this has been proposed by the government. It is very much essential to revive such cards and also to create a positive situation among the farmers all over the country.
- It will reveal a huge tax collection in the income of the country. There will not be any deficit in the budget for the future since at present it has Rs.2349 crore. The leakage in the system has to be checked properly so as to achieve a huge tax collection.