The Kisan Credit Card (KCC) plan would cover a total of 25,50,000 farmers by March 2023, the Jharkhand government announced on Wednesday. It stated that more than 19.50 lakh KCCs had already received approval.
The state administration added that since the JMM-led regime took office in December 2019, loans totaling more than Rs 900 crore had been approved under the program.
Only Rs 409 crore has been paid out under the scheme since Jharkhand was formed on November 15, 2000, according to the administration. According to a government announcement, "A target has been set to cover 25.50 lakh farmers with KCC by March 2023".
The process of including farmers in the credit disbursement scheme is being emphasized, it said, adding that as of September 15, 2022, there were 19.18 lakh KCC holders.
Farmers who repay their advances on time will receive a three percent interest subsidy on the Kisan Credit Card loans, which have a seven percent interest rate.
"Keeping in mind the economic condition of the farmers of Jharkhand, the state government is also helping them with an additional three percent interest subvention. In this way, if the loan is repaid within the stipulated time limit, one has to bear the burden of only one percent interest," "The declaration read.
