Cabinet approves interest subvention of 1.5%p.a. on agriculture loan

Cabinet has approved interest subvention of 1.5% on short term agriculture loan upto 3 lakh rupees.

This increase in Interest Subvention support requires additional budgetary provisions of 34,856 crore rupees for the period of 2022-23 to 2024-25 under the scheme.

Aim: To ensure the sustainability of credit flow in the agriculture sector as well as ensure financial health.

Minister of Agriculture & Farmers’ Welfare: Narendra Singh Tomar