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Credit-linked Subsidy Scheme Launched for Farmers in Assam

The Assam government on 28th January has launched a credit-linked subsidy scheme for farmers in the state.

Sarbananda Sonowal, Chief Minister of Assam launched the scheme on Krishak Swahid Divas to honour the death of around 140 peasants who laid their lives in 1894 protesting against rising land tax rate and other exploitation by the British Government.

The state government recently approved the AFCSS i.e. Assam Farmers’ Credit Subsidy Scheme 2018, under which it will pay back 25 percent of the loans taken or repaid by the farmers this economic year, with a limit of Rs 25,000. The scheme will cover around 4 lakh farmers of the state and involve a monetary outgo of Rs 500 crore.

The other is AFIRS - Assam Farmers’ Interest Relief Scheme that will extend support to cultivators who are punctual in repaying their loans, by offering a 4 percent interest subvention on short-term crop loans up to Rs 2 lakh. The scheme will be associated with the Centre’s scheme under which prompt-paying farmers are provided an interest subvention of 3 percent. With this, the effective rate of interest for a cultivator in the state accessing short-term crop loan up to Rs 2 lakh will be 0.

The minister said the state government was committed to strengthen and empower the farmers adding that government is taking numerous measures for the economic and social development of the growers.

Sonowal said the scheme was launched to assist the farmers double their income by the year 2022. He said that there should be a team of farmers, government representatives and bankers to provide financial aid and logistic support for farmers to improve agricultural production and help the sector increase its contribution to the GDP.



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