Odisha targets Rs 6,500 crore rabi crop credit

State provides loan upto Rs 1 lakh at the rate of one per cent interest to farmers
Image used for representational purposes. (File Photo | Express)
Image used for representational purposes. (File Photo | Express)

BHUBANESWAR: The State Government has set a target to disburse Rs 6,500 crore loan to farmers through the cooperative credit structures during rabi crop season 2019, which has already commenced from November 1.In 2018-19, the State had exceeded its target of Rs 5,600 crore by extending farm credit to the tune of Rs 6,004 crore covering 15.66 lakh farmers.

“It has been planned to extend crop loan of Rs 6,500 crore to farmers through cooperative sector for crop production during the 2019-20 rabi season,” said Cooperation Minister Ranendra Pratap Swain.
The Minister said the district-wise credit programme has been fixed. The Collectors have been directed to review the credit flow to the agriculture sector at the district level coordination committee at regular interval to ensure that the farmers’ crop loan need is met in time.

The short-term cooperative credit has been playing a pivotal role in disbursal of farm credit over the years and it has a share of around 65 per cent of the total crop loan dispensation in the State, he added.
As the State Government is keen to provide crop loan to maximum number of small and marginal farmers, the cooperative banks have been asked to extend their outreach to provide timely, adequate and hassle-free credit to farmer members of Primary Agricultural Credit Societies (PACS).

Besides, the commercial and regional rural banks have been persuaded through the State Level Bankers Committee (SLBC) to increase the quantum of institutional finance to agriculture sector to meet the credits requirement of farmers, the Minister said.

The State is providing crop loan upto Rs  one lakh at an subsidised rate of one per cent to the farmers. As per the draft Odisha Agriculture Policy-2019 which aimed at the continuation of Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme for next five years and steps for increasing income of farmers, the Government has already disbursed Rs 5,000 each to over 51 lakh farmers for kharif cultivation. Meanwhile, the Government has started disbursing financial help to farmers for rabi cultivation.

Farm loan

Rs 6,500 cr target in 2019
Rs 5,600 cr target in 2018
Rs 6,004 cr provided last yr
15.66 lakh farmers covered

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