Farmers, Fishermen, Animal Husbandry To Get Concessional Loans, Emergency Working Capital

In the second tranche of announcements towards the Aatma Nirbhar Bharat Package as relief towards the COVID-19 crisis, Finance Minister Nirmala Sitharaman on Thursday announced concessional credit boost for 2.5 crore farmers.

In the special drive, farmers who are existing beneficiaries under the PM-Kisan scheme will be given access to Rs 2 lakh crore worth of institutional credit at concessional rates through Kisan Credit Cards.

Fishermen and Animal Husbandry farmers will also be included in this drive, the minister said.

Apart from this, Sitharaman announced Rs 30,000 crore additional emergency working capital funding for farmers through NABARD which is expected to benefit 3 crore small and marginal farmers. RRBs and rural co-operative banks will be the main source for credit and will be in extension to the existing Rs 90,000 crore provided by NABARD through normal refinance route this financial year.

The additional capital is expected to meet the post-harvest (Rabi & Kharif crops) requirement for May/June.