Centre extends interest subvention scheme for farmers

New Delhi: The government on Wednesday approved continuation of Modified Interest Subvention Scheme (MISS) for 2025-26 under which farmers get short-term credit at affordable rate through Kisan Credit card (KCC).

The decision regarding continuation of MISS for fiscal year 2025-26 with existing 1.5 per cent interest subvention was taken by the Union Cabinet, informed I&B Minister Ashwini Vaishnaw.

The continuation of the scheme will cost exchequer Rs 15,640 crore. MISS is a Central Sector Scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through KCC. Under MISS, farmers get short-term loans of up to Rs 3 lakh through KCC at a subsidized interest rate of 7 per cent, with 1.5 per cent interest subvention provided to eligible lending institutions.