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CM seeks interest subvention to rescheduled crop loans

Chief Minister N Kiran Kumar Reddy has urged the Centre to extend the interest subvention to the rescheduled crop loans and to take steps to simplify the procedures of rescheduling crop loans.

He also suggested the setting up of a Risk Mitigation Fund, with a corpus created by Centre, to meet the contingencies for natural calamities, during the meeting of Southern State Chief Ministers Conference held at Bengaluru today. Union Finance Minister Pranab Mukherjee was the Chief Guest.

Besides rescheduling of crop loans and creating a Risk Mitigation Fund, he also suggested restore the subsidy on premium for agricultural crop insurance scheme to its original 50 per cent.
Other issues raised by the Chief Minister include, making Crop Insurance scheme more farmer-friendly, increasing credit flow to Medium, Small and Micro Enterprises (MSME) Sector besides asking the Banks to accelerate efforts to supplement Government initiative to cover all BPL families in the Housing scheme, according to an official release here.

Interest rate subvention to SHG loans on an equal footing with crop loans, waiver of two per cent service charges by banks on Electronic Benefit Transfer (EBT) payments to NREGA beneficiaries, increasing loans to licensed cultivators and improvisation of crop insurance scheme to make it more beneficial to farmers, were the other measures he suggested during the meet. (INN)

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