Krishi Rin Samadhan Yojona - A Helping Hand
Essential for Upcoming SSC CGL exams
The farmers of India have to take loans to cultivate plants as agriculture needs seeds, irrigation, fertilizers and lots of things. They have to pay the large interest rate on the principal loan amount even they face a loss due to drought, pest attack or any other natural calamities. The Chief minister of Madhyapradesh Shivraj Singh has launched a scheme to safeguard the interest of farmers after they make a protest. The scheme is known as Krishi Rin Samadhan Yojona. Under the scheme, the State Govt. will provide loan to the farmers at a lower interest rate.
Need of the Scheme-
The scheme is needed to support the farmers in their crisis and to prevent them to make violent protests. Farmers of Maharashtra also raised their voice against the high interest rate and placed demand to the State Govt to waive off their loans. The Krishi Rin Samadhan Yojona is launched after the farmers of Madhyapradesh protested against the remunerative prices of the crops.
Features of the Scheme-
The Government has added several features in this scheme to minimize the problem of poor farmers. The features are-
- It offer loan to the farmers at a lower interest rate for the loan amount.
- It offers assistance to the farmers to help them to access credit from the banks and other related financial institutions.
- It helps the farmers to reduce the burden of loans.
- The loan defaulter farmers enjoy relaxation on the interest rates and they have to pay fewer amounts than before.
- State Agricultural Ministry has set up a Department to estimate the production cost of primary sector of the state. The Department will find out the actual profit a farmer can get.Thus each farmer can earn proper profit and no one will be deprived.
- State Agricultural Ministry has also assured the farmers to buy crops like onion, moong and other pulses from the farmers at a minimum support price.
- Government has planned to start a mobile app in upcoming future to help the farmers to gain maximum knowledge about the market where they can sell their crops at declared prices.
- The scheme also offers one time annual loans without choosing crop insurance scheme.
- Special Budget of Rs. 1000 Crore is made by the Govt. from the Krishi Mulya Sthirikoron Kosh to provide the financial assistance.
Already 22 districts have started functioning to implement this scheme successfully. The eligibility criteria of this scheme to enjoy the benefits of it will be declared soon by the Government.