Maharashtra Interest Free Farm Loan Scheme 2022 (Eligibility criteria, Last Date, Application form, Official Website, how to apply, List, Documents, Toll free helpline Number)
The state government of Maharashtra has come up with a new loan scheme. The name of the scheme is Maharashtra Interest Free Farm Loan Scheme and as the name says, the scheme is an interest free loan scheme. It is for the farmers of the state. The scheme was launched by Deputy Chief Minister AjitPawar in the recent budget session. With the help of the scheme the farmers of the state will not have pay interest rate while repaying the loan. Here in this article we are going to discuss about the loan scheme in detail.
Table of Contents
Maharashtra Interest Free Farm Loan Scheme 2022
|Name of the scheme
|Maharashtra Interest Free Farm Loan Scheme
|Deputy Chief Minister AjitPawar
|Farmers of the state
Maharashtra Interest Free Farm Loan Scheme Key Features
Objective of the scheme–
The farmers will be able to avail interest free crop loan. It will help the farmers to live a standard livelihood as their income will be raised.
Number of farmers–
According to the survey, there are 35 lakh farmers who can get the benefit from the government.
No interest loan–
As per the rule of the rule of the scheme, the farmers will have to pay 0% interest while repaying the loan. The interest will be borne by the Uddhav Thackeray led government.
Total budget for the scheme–
Under the scheme the beneficiaries will get up to 3 lakh rupees as loan under MahaVikasAghadi.
Staring of the loan–
Objective of 0% Interest Crop Loan Scheme in Maharashtra
As it is seen that paying a loan with hefty interest is turn out to be a difficult task for the farmers. This is the reason government has decided to come up with a loan scheme where farmers have to repay the 3 lakh rupees on time but the interest will be paid by the government.
Zero Percent Interest on Crop Loans
MVA government is focused in increasing the farmers’ income in the state and that is the reason they are suggesting the farmers to avail the loan scheme. With the help of the scheme approximately 35 lakhs farmers will be benefitted as they will be able to avail 3 lakhs rupees as loan. The loan scheme will prevent farmer suicide in the state and government has also opted for the loan as in 2019-20 the state government has disbursed 28,604 crore rupees.
Other Initiatives for Agriculture Sector
- During the budget session, the Maharashtra govt. has allotted 2000 crore rupees for Agricultural Produce Market Committee.
- For increasing agricultural produce the Maharashtra State Electricity Distribution Company Limited will provide 1,500 crore rupees for electric pump.
- The state government is also going to give 33% concession on electric bill. If the farmer pays 50% of the bill then government will pay the rest.
- Govt. also allotted 2100 crore rupees for creating market for the farmers of the state.
- There will be 500 new PunyashlokAhilya Devi Holkar vegetable nurseries
- For agricultural research, govt. has also decided to spend 600 crore rupees
- Under SharadPawar Gram SamrudhiYojana, govt. will build poultry and cowshed.
Maharashtra Interest Free Farm Loan Scheme Eligibility criteria
Farmers of Maharashtra–
To avail the scheme farmer has to be a domicile of Maharashtra
The farmers has to have their own farm land to get the loan
The candidate must have a bank account where the loan amount will be transferred.
Maharashtra Interest Free Farm Loan Scheme Required documents
The farmers have to provide their land record at the time of application
How to apply for the scheme
As it is a newly launched scheme, so the state govt. has not launched any application detail; once it is launched you will be updated on this page.
With help of the scheme it can be said that the farmers will be able to increase their earning. It will give them a sense of relief because they often suffer loss of crops and that is the reason they often commit suicide because they cannot bear the interest. This scheme will reduce the burden from their shoulder.
Q : What is Interest Free Farm Loan Scheme?
Ans : It is a zero interest loan scheme launched by Maharashtra govt.
Q : Who are the beneficiaries of the scheme?
Ans : The farmers of Maharashtra
Q : How much loan will be given?
Ans : 3 lakh rupees maximum
Q : Who will bear the interest?
Ans : The state govt.
Q : Where to apply?
Ans : Not declared
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