3 lucrative schemes announced for farmers in Assam

December 19: It’s everywhere good news for the farmers. States are now busy too waive agricultural loans and introducing new schemes for the farmers. Assam too on Wednesday came up with three lucrative schemes for the farmers of the state. These are: Assam Farmers’ Credit Subsidy Scheme, Assam Farmers’ Interest Relief Scheme and Assam Farmers’ Incentive Scheme. These new schemes were introduced to give succour to the farming community, including small tea growers and rubber planters.

While addressing a press conference, Assam Finance Minister Himanta Biswa Sarma said these schemes are launched as the government’s gratitude towards the farmers, particularly on the occasion of 125^thanniversary of Patharughat Farmers’ Uprising (1894), where about 140 farmers were killed by the British.

Sarma said, “Under Assam Farmers’ Credit Subsidy Scheme, the state government has decided to reimburse 25 per cent of the money a farmer paid to the bank against a farm loan. If a farmer took a loan of Rs.1 lakh and repaid Rs.25,000 so far and if he repays another Rs.50,000, the government will then pay the remaining Rs.25,000. The upper cap of the government’s contribution will be Rs.25,000.”

He further said that “The scheme—Assam Farmers’ Interest Relief Scheme (AFIRS) will be aligned with the central government’s scheme under which such farmers are already extended a 3 percent interest subvention benefit.” He added that the effective rate of interest for farmers in Assam for short term crop loan up to Rs. 2 lakh will be zero percent.

He also said that the third scheme – Assam Farmers’ Incentive Scheme – was aimed at bringing some three lakh farmers, who defaulted on farm loans, to the banking system. “Under this scheme, the government will give Rs.10,000 to a farmer to help him repay loan. If he has a bank loan of Rs.50,000, he can repay it by paying Rs.40,000. The remaining Rs.10,000 will be paid by the state government,” Sarma said.

It was declared that the schemes will benifit 27 lakh farmers’ families in 26,000 revenue villages of Assam and will cost the state exchequer Rs. 1,000 crore. The schemes were passed by the Assam cabinet in its meeting held on December 17 and had also been presented in the state’s Budget for 2018-19.