The economic condition of most of the farmers in the country is not good. Because of this, most farmers need to take a loan for farming. Many times farmers get loans from moneylenders and private institutions at higher interest rates. It becomes very difficult for the farmers to repay the loan in such a situation.
The central and state governments are running many schemes to improve the economic condition of the farmers. In this sequence, the Madhya Pradesh government has also decided to continue the scheme of giving loans at zero interest. Under this scheme, farmers will be provided ‘short-term loans’ without any interest through cooperative banks.
The Madhya Pradesh government has decided to continue this scheme continuously in the year 2021-22 through cooperative banks. The benefit of this scheme is being given through ‘Kisan Credit Card’, under this, farmers of the state will now be able to get loans without interest in Kharif and Rabi seasons every year.
Source: Kisan Samadhan
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