Monday, January 17, 2022
HomeEditor's picksBudget 2019: Numerous sops for farmers including interest subvention and welfare of Gau Mata...

Budget 2019: Numerous sops for farmers including interest subvention and welfare of Gau Mata features prominently

Farmers who have been severely affected by natural calamities will receive a 2% interest subvention on loans and additional 3% subvention on timely repayment.

As we had speculated earlier, the Budget 2019 features numerous sops to farmers to counter farmer distress. Most significantly, structured income support will be provided to farmers through the Pradhan Mantri Krishan Samridhi Yojana.


Rs. 6000 will be provided to farmers with less than 2 hectares of land annually in three instalments. It will cost the state Rs. 75,000 crores per year.

In addition, a 2% interest subvention has been provided to farmers who practice animal husbandry and fisheries. An additional 1% interest subvention will be given if loans are repaid on time.


The PM Kisaan Samman Nidhi will also support farmers in procuring basic inputs like seeds and fertilizers. The move will also benefit the seeds and fertilizers industries. Allocation for Rashtriya Gokul Mission has been increased to Rs. 750 crores.

In addition, farmers who have been severely affected by natural calamities will receive a 2% interest subvention on loans and additional 3% subvention on timely repayment.


GauMata has also featured prominently in the Budget. The Rashtriya Kamdhenu Aayog will be set up to ensure the welfare of cows, including genetic improvement and sustainable development. Acting Finance Minister Piyush Goyal said, “Yeh sarkar kabhi Gau mata ke samman mein peeche nahi hategi. (This government will never shy away from honouring our Mother Cow).”

 

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Recently Popular

- Advertisement -

Connect with us

255,564FansLike
585,499FollowersFollow
25,500SubscribersSubscribe