New Delhi
In a major decision today, the Central Government announced a new subsidy scheme for farmers across the country. Under this scheme, small and medium farmers will get access to cheaper loans for agriculture.
The Finance Minister revealed in a press conference that this scheme will directly benefit over 5 crore farmer families nationwide. The government has allocated a budget of Rs 50,000 crore for this initiative.
“This scheme is a major step towards doubling farmers income,” the Minister said. Under the scheme, farmers will get loans at a 3% interest rate, significantly lower than market rates.
Opposition parties have termed this announcement an election stunt, but the ruling party has defended it as a farmer-friendly measure. The scheme will come into effect from April 1st.
Farmer organizations have welcomed the scheme but said they will closely monitor its implementation to ensure benefits reach the ground level.
