Bhubaneswar: Good news for share croppers. The government has decided to provide crop loan to land less share cropper at 1 % interest rate. The loan will be sanctioned during next kharif season.
CM Naveen Patnaik approved an amount of Rs 7200 crore as loan to farmers for kharif season, informed Cooperation minister SN Patro.
Patro said, “Loans will be provided to landless farmers who basically take up agriculture on other’s land”, said the Minister.
The landless farmers will be divided into five groups. A maximum amount of Rs 50,000 will be provided to each farmer through groups at one percentage interest without any securities.
Rs 200 crore will be provided to the landless farmers under the joint liability groups while Rs 1,000 crore will be spent as term loan in the agricultural sector.
“These loans will be provided to the landless farmers through various cooperative banks and societies instead of commercial banks.” informed the Minister.