Krishi VaartaKrishi Jaagran
Solar Pump Scheme: Farmers will get loans for solar pumps at cheaper rates!
The Solar Pump Scheme of the Central Government can fulfill all the electricity related needs of farmers simultaneously. In this, farmers can manage to install solar power systems according to their need by contributing only 10 percent. Meanwhile, there is another great news for farmers.
Approval to install solar pump from Agri Infra Fund
Farmers will be able to get loans for solar pumps at cheaper rates. The government has decided to use the Agri Infra Fund for solar pumps. At present, the government has an Agri Infra Fund of Rs 1 lakh crore. Farmers will be able to get cheaper loans from Agriculture Funds. For information, let us know that the government has approved the installation of solar pumps from the Agriculture Infrastructure Fund of Rs 1 lakh crore. Through this, the government gives loans at 3 percent cheaper rates. Under this, farmers get a loan for 7 years. The government has set a target of installing 17.50 lakh solar pumps in the fields by the year 2022.
Recently, the Reserve Bank of India has also changed the rules related to solar pump loans, so that small farmers can get more benefits. Under the new rules, farmers can easily get loans for setting up solar plants and compressed biogas plants.
What will be the benefit
Loans will be provided for setting up solar plants and compressed biogas plants in a simple way.
In the districts where banks were distributing priority category loans less, banks will have to give more preference in those districts.
Farmers will also get loans at cheaper rates to install solar pumps.
Farmers can irrigate their fields by putting solar panels on their land.Farmers have to pay only 10 percent of the amount to install solar panels.
The central government gives the subsidy amount in the bank account to the farmers.
More loans will be made available to small and marginal farmers.
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Source: Krishi jagran, 30 September 2020,
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