Govt to provide credit subsidy, interest-free farm loans


The Assam Government has taken a massive step forward in providing farmers of the State some relief with the cabinet approving three schemes that will provide 26,000 farmer families credit subsidy, interest-free bank loans and financial incentives. This was announced by Assam Finance Minister Himanta Biswa Sarma in Guwahati today (Dec 19).

The three schemes, Sarma said, are not loan vaiwers but proposals that the BJP-led Assam Government plans to implement in future years as well.

While the Assam Farmers’ Credit Subsidy Scheme will provide credit subsidy upto Rs 25,000 on Kisan Credit Card (KCC) loans farmers took or will take during the 2018-19 fiscal, the Assam Government will also provide interest-free loans upto Rs 2 lakh to farmers under the Assam Farmers’ Interest Relief Scheme, Finance Minister Sarma said. He also said that the third scheme — the Assam Farmers’ Incentive Scheme – aims to bring back around 3 lakh loan defaulting famers back into the banking system by providing them a one-time financial assistance of Rs 10,000.

Incidentally, the Assam Farmers’ Credit Subsidy Scheme will not be permanent but one that has been launched to commemorate the 125 years of the Patharughat farmers’ uprisng. The Government, however, is open to continue the scheme in the future as well.

The three schemes, he said, will cost the government Rs 500 crore annually.

On the other hand, Sarma, also the State Health and Family Welfare minister, announced that Chief Minister Sarbananad Sonowal will lay the foundation stones of three new medical colleges at Kokrajhar, Nalbari and Tinsukia on Jan 6, 7 & 9.

He also said the State Government has decided to release the second trance (Rs 2,500 each) of the Cha Bagisa Dhan Puraskar Mela in January under which the Government will credit a total of Rs 5,000 in the bank accounts of tea garden employees opened post-demonitization. A sum of Rs 2,500 for every account holder has already been credited to 7.21 lakh bank accounts of tea garden workers.