Rajasthan Extends 5 percent Subsidy Scheme for Repayment of Long-term Agri Loans

The Rajasthan government has extended the duration for repayment of long-term agricultural loans from Primary Cooperative Bhoomi Vikas Banks under the five percent interest subsidy scheme till June 30,2021.  

As per the official statement, a proposal has been approved to allocate an additional budget of 9.45 crore for the extended duration of the scheme.  

Earlier the deadline was March 31, 2021, but now it is extended till June 30, 2021. But Chief Minister Ashok Gehlot has approved the proposal by the Cooperative Department under which five percent subsidy on interest is given to the farmers on repayment of regular instalment of long term loans from Primary Cooperative Bhoomi Vikas Banks. 

The official statement has mentioned that Chief Minister Gehlot has decided to extend the duration to give benefit of interest subsidy to more farmers. As farmers from various districts who suffered crop loss damage due to heavy rains and hailstorms have not been able to take the advantage of the scheme due to COVID-19 pandemic. 

And not only this, the period of repayment of short-term crop loans disbursed by the Cooperative Department for the Kharif season 2020 has also been extended from March 31 to June 30, 2021. 

Rajasthan Government’s these decisions of extending the duration for loan repayment will provide relief to many farmers in this pandemic situation.