Finance Minister Nirmala Sitharaman can make a big announcement for farmers in the first budget speech of Modi 3.0. It is expected that the amount of Prime Minister Kisan Samman Nidhi can be increased. Under PM Kisan Yojana, the amount of annual installment can be from Rs 6000 to Rs 8000 and this amount can be given to the farmers in four installments in a year.
Experts believe that the budget will focus on increasing the income of farmers. In view of this, it is believed that the amount under PM Kisan Yojana can be increased. Apart from this, the KCC limit can also be increased. Kisan Credit Card limit can be increased to Rs 5 lakh. Farmers can easily get this loan.
What will be the announcements regarding PM Kisan Yojana?
It has also been claimed in the media report that the government can increase the annual amount of Rs 6000 to Rs 8,000 under PM Kisan Yojana. At the same time, it can increase the payment under the Minimum Guarantee Scheme and expand financial assistance to women farmers. Currently, under the Pradhan Mantri Kisan Samman Nidhi Yojana, the government gives an amount of Rs 6 thousand annually i.e. Rs 2000 every four months.
How much interest for KCC?
The total interest rate on Kisan Credit Card is 9%. In this scheme, 2% subsidy is given by the Central Government. If the farmers repay the loan before the completion of one year, then a further rebate of 3 percent is given to the farmers. In this way the interest rate of this loan remains only 4 percent. That is why it is called the cheapest loan in the country, which is available to the farmers of India.
When did the plan start?
The name of this scheme is Kisan Credit Card. It was started by the Central Government in the year 1998. Any farmer in India can take advantage of this. Under this scheme, cheap loans are provided. In this, farmers are given loans up to Rs 3 lakh at four percent interest.