Now, cooperatives to offer interest subsidy for long term loans to farmers

Kolkata: The Mamata Banerjee government has decided to give "interest subsidy with regard to long term loans" to farmers from cooperatives.

At present, farmers in the state get interest subsidy with regard to short term crop loans from cooperatives.

The State Level Monitoring Committee for Cooperative Sector had recommended interest subsidy for long term loans as well. The state government has decided to accept the recommendation.

According to a senior official of the state government, the step will be helpful for the farmers in the state, as they won't have to worry anymore before taking a long term loan for the purpose of agriculture.

"It will be of immense help to farmers and it will ensure further development of the state in the agriculture sector," said the official.

It may be mentioned that the Mamata Banerjee government has given a new lease of life to the state's agriculture sector. Starting from waiving tax on agricultural land to helping farmers with modern tools, it has ensured an increase in the yield and Bengal has won Krishi Karman award for five consecutive years.

At the same time, steps have also been taken to give old-age pension to as many as 1 lakh farmers above the age of 60 years. At present, a total of 69,000 aged farmers get the benefit. But the Chief Minister has now decided to bring in another 31,000 aged farmers under the project.

The amount of the pension has also gone up. Earlier, the aged farmers used to get Rs 650 to Rs 750 per month as pension. The "pro-people

government" has now decided to increase the amount to

Rs 1,000 per month.

The state government has also taken steps to set up 2,000 farm machinery hubs, through the best performing Primary Agriculture Cooperative Sector (PACS). Around 1,000 such hubs will be developed in the 2018-19 financial year and the rest of the same will be developed in the next fiscal. Setting up of the machinery hubs was taken up following recommendation of the committee.

According to a communique of the state government, "The committee has also made a few other recommendations, relating to activities other than banking, undertaken by PACS. These will be examined and necessary steps will be taken by the concerned departments."