Karnataka to increase agriculture lending in cooperative sector
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Karnataka has elevated the goal for agriculture lending in cooperative sector by about 14% this monetary yr over 2020-21 to assist farmers who’re in misery due to the COVID-19 induced lockdown.
Chief Minister B.S. Yediyurappa mentioned on Monday that ₹20,810 crore might be lent to almost 31 lakh farmers throughout this yr, an increase of 13.97% over 2020-21 when a complete of ₹17,901 crore had been disbursed to about 26 lakh farmers. The Chief Minister defined whereas 30.26 lakh farmers will obtain ₹19,370 crore in short-term loans on the fee of zero per cent curiosity, about 60,000 farmers will obtain ₹1,440 crore mid-term and long-term loans at 3% fee of curiosity.
He was talking at Raitha Spandana in Bengaluru, on the launch of agriculture mortgage disbursal, organised by Bengaluru District Central Cooperative Bank.
In 2020-21, agriculture mortgage amounting to ₹17,901 crore had been disbursed, about 114 % increased than the goal. While about 25.6 lakh farmers had obtained about ₹16,641 crore as short-term loans, about 52,000 farmers had obtained ₹1,260 crore as mid-term and long-term loans.
“We have kept a higher target keeping the COVID-19 situation in mind. We are a pro-farmer government. Agriculture, health and education are priority for us,” Mr. Yediyurappa mentioned.
The authorities had set a goal to present ₹1,400 crore mortgage to about 40 lakh self-help teams of which about 6,700 teams had obtained ₹233.33 crore by the tip of May.
The authorities, Mr. Yediyurappa mentioned, is conscious of the issues of farmers and different teams on account of COVID-19. “That is why repayment period in the cooperative sector has been extended by three months. This will benefit 6.17 lakh farmers and about 8.15 lakh members of 65,000 SHGs,” he mentioned.
The Chief Minister mentioned that 930 godowns throughout Karnataka, managed by Primary Agriculture Cooperative Society (PACS), are being repaired at a value of ₹316 crore below the Atma Nirbhar programme of the Centre.
₹6.4 crore has been permitted to construct godowns with a storage capability of two,500 metric tonnes in 18 PACS in Ramanagaram, Bengaluru Rural and Urban districts, he added.
Cooperation Minister S.T. Somashekar was current on the occasion.
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