The State Government has targeted to advance an estimated Rs 6,000 crore towards crop loan to the farmers through cooperative banks during 2013-14 Kharif and Rabi seasons at lower interest rate with rebate facilities to the timely repayment.
It is decided to provide Rs 3,500-crore loan to farmers during the Kharif season and Rs 2,500 crore during the Rabi season.
According to official sources, crop loan by the short term cooperative credit structure would be provided to the framers at 5 per cent interest. Besides, the farmers would be given three per cent interest rebate for timely repayment of loan availed during the 2013-14 season under the interest subvention scheme.
Sources said that the State Government provided Rs 325 crore towards the interest subvention scheme in the form of 3 per cent interest rebate to the farmers during the current financial year.
Chief Minister Naveen Patnaik, who reviewed the agricultural credit and marketing scheme on Monday at the Secretariat, asked the Cooperative Department officials to undertake intense sensitizatrion campaign through the cooperative banks, Primary Agriculture Cooperative Societies, Regional Marketing Cooperative Societies and gram panchayats so as to encourage the farmers to avail the interest subvention scheme.