BHUBANESWAR: The state government will provide interest-free short-term agricultural loans up to Rs 1 lakh to farmers till the 2025-26 rabi crop season. The government will pay the premium of the loans on behalf of the farmers.
After review of performance of Cooperation department by Chief Minister Naveen Patnaik here on Monday, Cooperation Minister Atanu Sabyasachi Nayak said the state government has fulfilled its election promise by increasing short-term farm credit needs of farmers from Rs 50,000 to Rs 1 lakh without levying any interest.
As a result, over seven lakh farmers of the state have availed term loans of Rs 16,683.57 crore in 2022-23 against Rs 438.36 crore to 6.4 lakh farmers in 2000-01. Of the 2,710 primary agriculture cooperative societies (PACS), 2,295 have been computerised to ensure transparency in transaction of business. Odisha is the first state in the country to bring core banking solution at PACS level, the minister said.
Under Pradhan Mantri Fasal Bima Yojana (PMFBY), the state government has settled insurance claims of Rs 1,166 crore of 31.93 lakh farmers in 2021-22. Steps have been taken to cover more farmers during the current financial year, he said.
The minister said 66 regulated market committees (RMCs) of the state have been linked to the National Agriculture Market (eNAM) trading platform for better price discovery and providing facilities to the farmers for smooth marketing of their produce. The state is placed in fourth position in intra-mandi trading of agriculture commodities.
He said plans are afoot to cover all market yards, municipalities and krushak bazars under e-Nam platform, construction of a capital region agricultural market at Jatni. This apart, permission has been obtained from National Payments Corporation of India (NPCI) for installation of micro ATMs for retail payment.