Pranab to farmers: Payback loan on time and get two percent subvention
By ANIFriday, February 26, 2010
NEW DELHI - Union Finance Minister Pranab Mukherjee on Friday offered two percent subvention on short-term crop loan.
Presenting the budget for the year 2010- 2011, Mukherjee announced that the farmers who pay the short term crop loan in time would be eligible for an incentive of additional one per cent interest subvention.
Earlier the Government offered one percent subvention on short-term crop loan.
In view of the recent drought in some States and the severe floods in some other parts in other country, Mukherjee proposed the extension of the period for repayment of the loan amount by farmers by six months from December 31, 2009 to June 30, 2010.
The proposed extension would come under the Debt Waiver and Debt Relief Scheme. (ANI)
