Rajasthan govt will give interest free loans to farmers upto Rs 75,000 crore in the in the next 1.5 years, says UNI. This was announced by Rajasthan Chief Minister Vasundhara Raje in a function in Udaipur.
The Chief Minister said the interest rate of Land Development Banks and Co-operative Banks will be reduced and will soon be as low as 5.5 per cent.
She said the farmers who take these loans will be given an insurance cover under the cooperative sector Bima Yojna of Rs six Lakhs and the amount will soon be raised to Rs 10 Lakhs.
The chief minister stated that the premium amount for Bima Yojna is Rs 55 annually, out of which the farmer only has to contribute Rs 27.50 paise. The remaining amount will be contributed by district co-operative banks.