Cabinet nod to continue short term crop loans to farmers at zero pc interest
   Date :11-Aug-2022

loans to farmers  
 
 
 
Staff Reporter
A meeting of the Council of Ministers was held in Mantralaya on Wednesday under the chairmanship of Chief Minister Shivraj Singh Chouhan.
The Cabinet has decided to continue the scheme of giving short term crop loans to farmers at zero percent interest rate in the year 2022-23. This loan is given to the farmers from co-operative banks / Primary Agricultural Credit Co-operative Societies (PACS). The base rate for the year 2022-23 in the plan will be 10 percent. The due date for Kharif 2022 season will be 28 March 2023 and for Rabi 2022-23 season the due date will be 15 June 2023. 3 percent (general) interest subsidy for all farmers taking short term crop loans in Kharif and Rabi season under the prescribed base rate of 10 percent and 4 percent additional interest subsidy to the farmers who repay the loan till the prescribed due date will be given. This scheme is applicable from the year 2012-13. In this, the state government provides interest subsidy on short term crop loans up to Rs 3 lakh.
While strengthening the Madhya Pradesh Women’s Finance and Development Corporation, the Cabinet gave approval for provision of separate budget line for establishment expenditure, formation of Mukhya Mantri Nari Samman Kosh in the corporation and Mukhya Mantri Udyam Shakti Yojana under it. Under the Mukhya Mantri Udyam Shakti Yojana, 2% interest subsidy will be given on the cases approved by the banks of the women beneficiaries of the State Rural Livelihood Mission and National Urban Livelihood Mission, Mukhya Mantri Udyam Kranti Yojana and Chief Minister Women Empowerment Scheme. Along with this, approval was given to set up a Project Management Unit in SRLM/NULM and a Project Cell in the corporation to establish marketing system and backward and forward linkage of the products of women entrepreneurs funded from the above schemes. In order to bring the Tejaswini groups formed by the Corporation into the Livelihood Mission fold, out of the amount available in the Tejaswini programme, Rs 10 crore has been approved for the Rural Livelihood Mission.
Mukhya mantri Bal Ashirwad Yojana: The Cabinet has decided to implement Mukhya Mantri Bal Ashirwad Yojana. Under the scheme, financial assistance (sponsorship) will be given to care leavers (after care) above the age of 18 years leaving child care institutions and orphan children up to the age of 18 years living with relatives or guardians. Under the scheme, care leavers will be given Rs 5,000 per month for a maximum period of one year at the time of internship and Rs 5,000 per month for a maximum of 2 years on getting vocational training. Also, careleavers who begin the course through NEET, JEE or CLAT will be given Rs 5,000 per month for their livelihood expenses. All financial assistance for education or internship or vocational training in after care will be given for the stipulated time period or till the age of 24 years, whichever is earlier.
Under the sponsorship, financial assistance of Rs 2,000 will be given in the joint account of the legal guardian of the eligible children for a minimum period of one year and maximum up to 18 years and medical assistance under the Ayushman scheme. In this way, efforts will be made to rehabilitate the orphan children in the society by giving financial and educational support.
Revised Administrative Approval of Pench Diversion (Major) Project: The Cabinet gave the fourth revised administrative approval for the Pench Diversion (Major) Project costing Rs 3,395.70 crore and irrigated area 1,26,647 hectares.