Millennium Post

Central panel to study financial aid for crops hit by unusual rainfall

An informal group of ministers, headed by Home Minister Rajnath Singh, has been constituted to look into the issue of raising cap of financial assistance given to farmers whose crops have been affected due to unseasonal rains and other natural calamities.

The three-member panel also includes Agriculture Minister Radha Mohan Singh and Finance Minister Arun Jaitley. “The current assistance given to affected farmers under the government’s disaster relief fund is very less. This needs to be raised,” Radha Mohan Singh said, adding that a committee under the chairmanship of the minister has been set up to look into this issue. Last week, while interacting with the affected farmers in in Rajasthan, Jaitley had said that the Centre will raise the compensation limit.

Regional Rural banks to get Nabard support

In the wake of unseasonal rain damaging thousands of acres of standing crops in many states, Nabard on Tuesday said it is committed to supporting regional rural banks and co-operative banks with liquidity support from a specially created Rs 1,600 crore fund.

If RRBs and co-operative banks face liquidity issues on account of extensions in repayments given to farmers due to natural calamities, Nabard will support them, its Chairman H K Bhanwala said, adding that “There will be no shortage of funds”.
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