Krishi VaartaKrishi Jaagran
7 crore farmers will get benefited, KCC limit doubled!
In view of the problems faced by the farmers in the lockdown, many types of demands have started to arise. Kishan Shakti Sangh president Pushpendra Singh has demanded to double the limit of Kisan Credit Card and reduce its interest rate. He has demanded from the government that along with increasing the KCC limit to Rs 6 lakh, the interest rate should be reduced to 1 percent. Currently, its limit is Rs 3 lakh and the interest rate paid on repayment of money is 4 percent. The farmer leader believes that in the era of the Corona epidemic, the rural economy will be strengthened by this._x000D_
Apart from the change in KCC, he has also demanded suspension of all types of loans, installments of farmers for a full year. At the same time, as a relief from the government, the date of payment of all short-term crop loans taken from banks on KCC has been extended by two months from 31 March to 31 May. After which farmers can pay their crop loans till May 31 at the old rate of only 4 percent per year without any increase in interest. At the same time, Kisan Shakti Sangh is demanding to suspend it for the whole year._x000D_
• Central government has given exemption_x000D_
The interest rate of loans up to Rs 3 lakh taken by farmers on agricultural credit cards for agriculture related work is 9%, but the government gives a subsidy of 2%, after which its interest rate is 7%.With this, it gets a further rebate of 3% on timely repayment, after which it is left with only 4%. Which is now being demanded to be one percent. The Kisan Credit Card Scheme and the PM Kisan Samman Nidhi Scheme are two major schemes of the Central Government which have now been added._x000D_
Source- krishi jagran, 29 April 2020_x000D_
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