BHUBANESWAR: The State government has set a target to disburse Rs 9,000 crore short-term seasonal agricultural loans to farmer members of the primary agriculture cooperative societies (PACS) during this kharif season. Announcing the crop loan target, Minister for Cooperation Ranendra Pratap Swain said, “the government wants cooperative societies that provide around 62 per cent of the total crop loan disbursements in the State to extend their outreach to provide timely, adequate and hassle free credit to the farmers.”
He said the department has written to all district collectors to expedite the process for crop loan disbursement with emphasis on small and marginal farmers. He said the district central cooperative banks (DCCBs), deputy registrar of cooperative societies and chief district agriculture officer have been directed to prepare action plan to cover the farmer families left out last year under cooperative credit network.
The target for quantum of loan to be disbursed and the number of farmers to be covered under kharif finance will be fixed PACS and village wise to ensure extensive coverage. He said short term credit will be extended to SHGs, tenant farmers and oral lessees. The PACS are advised to dispense at least 10 per cent of the crop loan to share croppers through joint liabilities groups (JLGs).
The Minister said priority is being given to finance pulses, oilseeds, potato, seasonal horticultural and other cash crops.The cooperative credit structure had achieved 92 per cent of the crop loan target by disbursing Rs 8,686.4 crore to over 18.61 lakh farmers in 2021. The government had set a revised target to disburse Rs 9,000 crore loans to farmers.
Similarly, a record disbursement of Rs 7,362.47 crore was made during 2021 rabi cultivation. Swain said that the effective rate of interest for crop loan upto Rs 50,000 will be nil if the borrower repaid the loan in time and 2 percent for loan from Rs 50,001 to Rs 3 lakh.