Agriculture Investment Credit Scheme Rajasthan
India is primarily an agricultural country. Time to time, many efforts are put in and initiatives are taken to develop the sector in the best possible way. One of the recent moves is taken by the Government of Rajasthan. This is a collaborative move. Bank of Baroda is involved into it.
‘Agricultural Investment Credit For the Farmers in Rajasthan’ is a special scheme launched by Bank Of Baroda. The main concern behind this scheme is water conservation. Water Conservation can easily be done through micro irrigation.
Bikaner and two more regions are the first place where this scheme will be applicable at. In fact, first loan has already been issued.
Some key highlights of the scheme
The scheme is very promising for the future of farming. This can be understood from below mentioned points:-
- Loan can be availed from the bank for construction of farm ponds, installing of micro irrigation (it is indeed an expensive investment) and installing of solar pumps.
- Loan can be taken for any other viable reason, concerning the development of farming in Rajasthan
- Loan will be provided to farmers at lower interest rate so that it is easy for them and for the bank too
- BOB has also planned to reward farmers through incentives if they repay the loan before time
Proactive than reactive
BOB has already made liaisons with several manufacturers, who are into making of agricultural equipments. One of the key focuses is micro irrigation. The technology is real fine for a state like Rajasthan where water is scarce.
Initially the scheme will be implemented in the districts of Bikaner, Sri Ganganagar and Hanumangarh. Once brighter colors are shown by these places, it will be implemented in other parts of the state too. There is an additional venture under the same scheme – per drop more crop. This too is connected with micro irrigation/ drip irrigation.
This is a low water pressure and low wasting irrigation methodology. In this, water drops, right at the place where it is needed. Drop by drop, it releases water and rest you may understand yourself.
The merits of micro irrigation are:-
- It saves a lot of water, prevents water wastage that may happen due to evaporation or any other reason. Lesser flow of water is needed, this means lower water pressure will work as well.
- Growth of weeds is prevented to a great extent. This leads to better maintenance of land. Celery and onion are best cultivated this way.
The demerits of micro irrigation are listed below:-
- Algae may start to grow inside the pipes; this may hamper the quality of water. Animals and birds like cow/cat and crows may spoil the installed
- It requires hefty amount as initial investment and the repair and maintenance will be extremely challenging as well.
The entire team involved in this effort has good hopes from times to come. It is expected that the farmers will do their bit and the banks will do theirs.
This effort is considered, will be adopted by other banks as well. This may improve the condition of farmers a lot. The main aim is to go beyond just farms. Be it in terms of crop production or contribution of agricultural sector to GDP as a whole, things are considered promising.
While following the news, you may have come across the news that the farmers are committing suicide. Things can’t be changed overnight, yet, some efforts can be taken. With a move like that of BOB’s let us be hopeful.