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NEW DELHI: The govt’s intent to take a position Rs 25 lakh crore to give a boost to productivity of farm sector highlighted through President Ram Nath Kovind in his address to the joint sitting of Parliament on Thursday, was once in sync with the BJP’s election manifesto which guarantees infusion of the amount within the coming years as a part of the federal government’s effort to double farmers’ income through 2022. The birthday party’s different promise, in the case of interest-free loan on Kisan Credit Cards, might find a place within the Union Budget on July 5.

The large expenditure, officers in agriculture ministry mentioned, can be earmarked for more than a few ongoing schemes and the proposed ones through the inter-ministerial committee on Doubling Farmers’ Income (DFI) which instructed 13 particular action points for reforms within the farm and allied sectors.

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These 13 points include growing agricultural logistics system for post-production operations similar to produce aggregation, transportation and warehousing; agri-market intelligence system to lend a hand farmers take call for driven determination; farmer-centric advertising infrastructure in rural areas and building of irrigation and micro-irrigation networks around the country.

These are, then again, the lengthy and medium-term targets. The ministry has, meanwhile, stepped up efforts to speed up its ongoing programmes in a time-bound way as a part of its 100-day plan.

Besides asking states to percentage verified checklist of attainable beneficiaries beneath PM-Kisan (confident income strengthen scheme) through July 31, the ministry had closing week also requested them to release village-wise or bank-wise force to bring minimum 1 crore farmers beneath Kisan Credit Cards (KCCs) scheme within the subsequent 100 days.

“The transfer will lend a hand the federal government in enforcing interest-free KCC loan up to a certain amount for a specific period on condition of recommended reimbursement,” mentioned an official, hinting that the announcement to this effect could also be made within the upcoming finances through the brand new govt on July 5.

The BJP in its poll manifesto promised non permanent new agriculture loan up to Rs 1 lakh at 0% interest rate for 1-5 years on the condition of recommended reimbursement of the predominant amount.

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“There is a need to increase the KCC footprints for any such scheme to get wider coverage. Its penetration is lately restricted to just 6.95 crore farmers against 14.5 crore operational landholdings within the country,” mentioned an official.

The KCC scheme, introduced in 1998, helps farmers avail credit from banks for purchase of seeds, fertilisers, pesticides and different manufacturing needs. The govt lately supplies interest subvention of 2% and recommended reimbursement incentive of 3% to farmers, making the credit available to them at four% according to annum.

In a review assembly on the scheme closing week, Gujarat, Maharashtra, Uttar Pradesh, Chhattisgarh, West Bengal, Bihar, Jharkhand, Himachal Pradesh, Jammu & Kashmir and north-eastern states had been recognized where KCC penetration was once found to be poor as compared to Madhya Pradesh, Rajasthan and southern states.

“In order to increase the KCC footprints, the Indian Banks Association had lately issued an advisory to all banks asking them to waive off processing, documentation, inspection, ledger folio charges and all different carrier charges for playing cards and crop loans up to Rs 3 lakh — a transfer which might save an estimated Rs 2,000 to Rs 5,000 of farmer who applies for KCC,” mentioned every other official.

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