Krishak Udhyami Yojana In MP (कृषक उध्यमी योजना )
Shivraj Singh, CM of Madhya Pradesh has launched Famers Entrepreneur Loan Scheme which name is Krishak Udhyami Yojana. Under this scheme children of farmers will get loan for business. Up to Rs. 2 Cr can be received as loan with 15% grant.
Launch Date and Event
The scheme was announced by the Chief Minister of MP Shree Shivraj Singh (13 August 2017). In his maiden talk show Dil Se, he has announced about the loan scheme for the farmers’ children.he mentioned about the Krishak Udhyami Yojana prior to Independence Day.
Eligibility Criteria For Krishak Udhyami Yojana
This is an affordable loan scheme. Under this scheme, the sons and daughters of the farmers in Madhya Pradesh will get for starting their business. The youths are required to cross 18 years of age (minimum) to get the loan.
Loan Criteria and Interest Rate Rules Under Krishak Udhyami Yojana
- The loan amount will be minimum of Rs. 10 Lac and maximum of Rs. 2 Cr. According to Singh, he will provide 3 months to the authority to clear the pending cases regarding the fields. Any disputed land will not be considered under this scheme.
- Loan amount should be given to the adult children of the farmers. The entire amount can be received from the banks nearby. There is relaxation on interest rates as well under this scheme.
- The youths will be required to set up Customs Processing Centres for the farmers. In these centres the farmers can clean and grade their produced products in no time.
- According to the rules of Farmers Entrepreneur Loan Scheme in Madhya Pradesh, the applicants will get 15% grant on interest for lower amount of loan and 5% grant on interest for higher amount of loan.
- 40% grant may available on the loan amount up to Rs. 25 Lac. With the help of this amount nearly 1000 custom processing centres shall open in the first phase of the scheme, said by CM Singh.
- Time Period / Loan Tenure: The loan amount will be given for 5 years to all the applicants. The beneficiaries have to pay back the loan amount including interest payments within 5 years of time.
Application Form and Registration Process For Krishak Udhyami Yojana
As of now no other information regarding loan has been out. The application and registration process of the scheme are yet to be published by the state government of Madhya Pradesh.
Farmers Entrepreneur Loan Scheme is a one-of-a-kind scheme that will facilitate the children of the farmers. This will be helpful to enhance the business skill among the youth of the state. Also with this scheme the agricultural base in MP will also get boosted much more than before. As of now no official details have come out regarding the benefits and facilities of the scheme. In his 40 minutes long speech, Singh has stated that this scheme will grow production capacity in agricultural sector across the state Madhya Pradesh.