(a) whether the Government has given directions for providing agriculture loan to farmers
at four per cent rate of interest;
(b) if so, the details thereof ;
(c) whether there is a need for providing post-production loan to the farmers at the same
rate of interest for proper management of post production requirements such as
storage;
(d) if so, the details thereof; and
(e) the action taken by the Government in this regard so far?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE(SHRI NAMO NARAIN MEENA)
(a) to (e) : The Interest Subvention Scheme of the Government of India is being
implemented by Public Sector Banks, Regional Rural Banks and Cooperative Banks
since 2006-07 to provide short-term crop loans upto Rs. 3 lakh for a period of
one year available to farmers at the interest rate of 7 percent per annum. The
Government of India has since 2009-10 been providing additional interest subvention
to prompt payee farmers, i.e. those who repay their loan in time. The additional
subvention was 1% in 2009-10 and 2% in 2010-11. This is being increased to 3% in
2011-12. Hence the prompt payee farmers will get the short term crop loan upto
Rs.3 lakh at the rate of 4% p.a. in 2011-12.