SHIMLA, June 27: In a major relief to farmers facing financial distress, the HPgovernment has decided to launch the Agriculture Loan Interest Subvention Scheme under the one-time settlement policy, fulfilling a key budget announcement of the state government.
The scheme would provide assistance to farmers whose agricultural land is at risk of auction due to loan defaults.
Under this farmer-centric initiative, the government would bear 50 per cent of the outstanding interest liability on agricultural loans up to Rs 3 lakh per farmer, a statement issued here on Saturday said.An estimated 6,356 farmers across the state are expected to benefit from the scheme, with a financial outlay of Rs 50 crore. he scheme would cover farmers whose agricultural loans have become overdue. (PTI)
