Maharashtra proposes zero pc interest on farm loans up to Rs 3 lakh

Maharashtra Deputy Chief Minister Ajit Pawar on Monday presented the state budget for 2021-22 in the state assembly and said the government has decided to provide zero per cent interest loans to farmers who take crop loans up to a limit of Rs 3 lakh and make timely repayment.

Pawar said the amount of interest on crop loan will be paid by the government on behalf of farmers. The required funds will be provided by the government, he said.

"Keeping in view the objective to free the farmers from interest burden and prevent them from turning defaulters, the government has decided to provide zero per cent interest loans to farmers who take crop loans up to a limit of Rs 3 lakh and make timely repayment," he said.

Pawar said that the government has also planned to invest Rs 2,000 crore to strengthen the Agricultural Produce Market Committee (APMC).

An outlay of Rs 7,350 crore has been proposed for the Rural Development Department.

Maharashtra assembly budget session started on March 1 and will be last till March 10. The session was curtailed due to a surge in COVID-19 cases.

( With inputs from ANI )