Govt slashes farm loan rate, brings it to 1 pc

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Vulnerable sections in the State got something to cheer about when the Government announced double bonanza for farmers as well as women. On the one hand farmers would be getting agricultural loan at a rate of just one per cent annually, the stamp duty on immovable properties done in the name of women are to attract  Rs 1 only.

The decisions were taken by the State Cabinet in its meeting on Tuesday. Agriculture Secretary Puja Singhal said that the Government would waive 3 per cent interest rate charged on the Kisan Credit Card KCC) loans.

“Earlier the farm loan was given at the rate of 7 per cent and if repaid on time, the Center was waiving 3 per cent of it. Now the State Government has also decided to follow the Center and written off another 3 per cent. Thus the farmers have to pay only 1 per cent against the KCC loan if it is paid within one year duration fixed for that,” said the Secretary.

The Government has made provision of  Rs 40 crore annually under ‘interest subversion plan’, as it is named and formed for this purpose, while the money would be reimbursed to the commercial banks through cooperative and agricultural banks. The Secretary also clarified that the plan would be applicable on the farm loan taken only this year onwards.

In another decision the Cabinet approved formal declaration of Chief Minister Raghubar Das related to registry and stamp duty charged against land or flat. “Women would have to pay just Re 1 as token money for registry done of immovable properties. There are certain conditions to qualify for this. Any one can get the benefit only once and for the value of property not more than Rs 50 lakh. Also the property must be in the name of women only,” said Cabinet Secretary SS Meena.  

Besides, the Cabinet under Pradhan Mantri Awas Yojna approved 40,000 houses for economically weaker sections. The programme would cost  Rs 2200 crore for this purpose. “One house is estimated to cost  Rs 5.5 lakh. State and Center would pay  Rs 600 crore each this purpose and the rest would be paid by the beneficiaries and developers under the Hybrid Annuity Model applied for PMAY scheme meant to house for all by 2022,” added Meena.

Also, the Cabinet redefined income category for lower, lesser, middle and higher income groups as Rs 3 lakh, between  Rs 3 to  Rs 6 lakh,  Rs 6 to Rs 12 lakh and above  Rs 12 lakh under Jharkhand State Housing Board. 10 per cent of the land taken by the Board would be reserved for those who got displaced from there for residential purposes while 2 per cent of that can be used for commercial activities. Timeline for submitting objections on any master plan has been reduced from 60 days to 30 days.

In another decision Jharkhand State Food and Civil Supplies Corporation limited would pay to the paddy farmers who were not paid by the NACOF against the paddy procurements made by the agency in many districts.

The Cabinet also approved dismissal of then Domchanch BDO-cum-CO Rupmukesh Mishra for illegally settling 439 acre forest and Government land. Mishra is serving as Pakur SDM at present.

Daily Pioneer
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