Delay on part of the State Government to pay the loan subsidy on interest rates i.e. Rs 4.12 crore to the Nainital District Cooperative Bank (NDCB), Haldwani, for the past two years 2011-2012 and 2012- 2013, may affect the loan providing capacity of the said bank at a time when extending relief package in the form of financial assistance to the farmers who have suffered a huge loss to their crops due to natural calamity both in hill areas and plains of the Himalayan State is need of the hour.
The NDCB provides loan to the farmers on low interest rates i.e. loan upto Rs 50,000 is given only at an interest rate of 2 per cent and above accordingly to the farmers. later, the State Government compensates the cooperative sector banks by paying subsidy that the said bank provides to the farmers on interest rates.
Though the officials concerned of the NDCB claim to have received some amount against the subsidy on interest rates that it had given to the needy farmers during the past two years, a sum of Rs 4.12 crore against the loan subsidy on interest rates is yet to be paid by the State Government to the said cooperative bank.
Some part of the dues has been cleared. Yet, Rs 4.12 crore of financial years 2011-2012 and 2012 -2013 that the bank has paid during this period is yet to be cleared by the Government, said CK Kamal, General Manager, NDCB, Haldwani, while talking to The Pioneer. Hopefully, after the rainy season, the Government would clear the dues. More so, keeping in view the present conditions due to natural disaster, the Government may also come out with some new farmer friendly schemes, he added.
Farmers of the hilly regions of the State are no less affected due to the natural disaster. Incessant rain coupled with landslides has badly hit not only the paddy crops, but also the horticulture sector. Interestingly, the horticulture sector is today the mainstay of the household economy of a hill district like Nainital and several incentives like loan on low interest rates that the Government has introduced to encourage farming, has significantly boosted both agriculture and horticulture sectors in the region.