Krishi Upaj Rahan Loan Scheme in Rajasthan
Rajasthan has announced the Krishi Upaj Rahan Loan Scheme in 2017 keeping in mind the benefit of farmers. The scheme was launched under the guidance of Vasundhara Raje. The objective of the above-mentioned scheme is providing agricultural loans to the cultivators of the state for a stipulated duration. The State Cooperative Department is supervising the scheme. The scheme was announced by the State Cooperative minister Ajay Kilak. The top most authority rests with the state government.
Key Features Of the Krishi Upaj Rahan Loan Scheme
- The aim of the scheme: The farmers do not get to work all year round, and there are several periods of when the market price of produce is low. This scheme will look after the needs of the farmers so that in those difficult months they are not compelled to sell crops at low rates to look after their family.
- Provision of loans: Under the scheme, the government will provide loans to the farmers.There will be a stipulated period for returning the loan. The loans will also depend on the market price of the agricultural goods.
- Beneficiaries of other schemes: Beneficiaries of some other schemes can also avail the benefits of the above mentioned Yojna. Under this facility, the farmers who come under the GSS and LAPMS scheme can also register for the facilities. The government plans to assist both the marginal and large land holding cultivators under the scheme. They will be held as the beneficiaries of the scheme by the state government.
- Auditing of farmers- The state government has promised to take an audit of the farmers at regular intervals. The cultivators will be divided into two categories, namely A and B.
- Subsidy from the state government: The government is providing loans to farmers at subsidized rates. They will receive a further subsidy of 2% on the amount taken as a loan when they pay off within three months.
- Warehousing facilities: The government is taking care to build several cooperative warehouses. These places will have all the latest facilities to protect the crops against pests and decay to ensure their longevity.
- Application of scheme: The process of application has not been completed. The total step by step plan of applying the scheme in the state is still under discussion. The farmers will be duly notified as soon as the process is finalized as a whole.
- Residence: The farmer must be a resident of the state. They must have the Aadhar card and voter card to proof their residence.
- The non-profit assets:The farmer must be able to declare the non-profit assets at less than 10%. Otherwise, he will be deemed as not eligible for the scheme.
- Bank account: The farmer needs to have an active bank account. They will need to show bank account details like IFSC code, bank name, bank account number, and name of the account holder.
- Credit provided: The market price of the crops will be assessed. The farmer will get 70% of the total money at which the crop is selling at the market.
- Land proof: The scheme will benefit all farmers of the state. The proof of the amount of the land owned by the farmer is a must.
The credit amount will also depend on the market price of the produce. There is the provision of providing loans to both small and large-scale farmers although the amount is different. The small and marginal cultivators will get Rs. 1.5 lakh while the large-scale cultivators will get Rs. 3 lakh on their production.
The interest rate on the loans has been fixed. It has been kept at 11 per cent which is a subsidized rate.There is the provision of 2 per cent rebate if the loan is paid back in time.
It has been strictly mentioned that the period of repaying the loan is within the span of 90 days. However, the special cases will be considered and in that case, the time will be increased to a maximum of six months.
- Checking the eligibility- The farmer needs to go on the official website http://www.rajasthan.gov.in/Pages/default.aspx and check their eligibility for the scheme. Alternatively, they can collect the information from Gram Seva Samiti.
- Gram Seva Samiti- The farmers will have to go to Gram Seva Samiti to get the application forms. The state government will regularly monitor and notice the works of the Gram Seva Samiti.
- Submission- The form will have to be submitted at the Gram Seva Samiti. This is where the duty of the cultivators ends for the time being.
- Transfer of funds- The forms will be checked by the authorities. After the checking, the funds will be transferred directly to the accounts of the beneficiaries.