Scheme for Farmer: The Government of India has launched a new scheme for farmers, under which they will get loans easily. Union Food Minister Prahlad Joshi on Monday launched a loan guarantee scheme of Rs 1,000 crore to help farmers get loans easily after harvesting by taking advantage of electronic warehouse receipts.
Under this scheme, it will be easy to get loans on the basis of electronic negotiable warehouse receipts (e-NWR) issued by the Warehousing Development and Regulatory Authority (WDRA) registered repository and banks will also not refuse it. Let’s know about it.
Guarantee of Rs 1,000 crore
Talking about this scheme, the minister said that we have provided a fund of Rs 1,000 crore. Its purpose is to encourage banks to give loans with a liberal approach. Food Secretary Sanjeev Chopra, while explaining the significant possibilities of expansion, said that the loan available after harvesting is only Rs 40,000 crore out of the total agricultural loan of Rs 21 lakh crore. At the same time, the loan on the basis of e-NWR is only Rs 4,000 crore.
He further said that we hope that the amount of post-harvest loans will increase to Rs 5.5 lakh crore in the next 10 years. He also emphasized that this target can be achieved with coordinated efforts of the banking and warehousing sectors.
Need to increase warehouse registration
The secretary emphasized on streamlining the e-Kisan Upaj Nidhi online platform. Apart from this, he also emphasized on the need to create awareness about pledge financing among farmers, review depository charges and increase warehouse registration beyond the current 5,800. Minister of State for Food and Consumer Affairs B L Verma and Nimuben Jayantibhai Bambhania were also present in this program. Apart from this, WDRA President Anita Praveen was also present.
