The Directorate of Agriculture extend a helping hand to the farmers by providing a lucrative interest subsidy scheme on crop loan. Under the scheme “interest Subsidy on loans for agriculture & allied activities” Government of Goa provide the interest subsidy of 4%o in addition to interest subsidy of 3% provided by Government of India for short term crop loan up to Rs.3.00 lakh and for long term crop loan up to Rs. 5.00 Lakhs. Interest Subsidy is also provided on working capital for Animal Husbandry and Fisheries activities. This results in farmers accessing loans at an unpredictable Zero percent interest rates, a pivotal step towards ensuring financial sustainability for the dedicated farmers. It is important to note that the interest subsidy is provided only upon prompt repayment of loans to the banks. This Notification was published on 12.12.2023.
The Primary objective of the Scheme is to encourage and support farmers in pursuing agriculture on a viable and lucrative activity. It provides timely and adequate credit to the farmers to meet their cultivation expenses. For loans up to Rs.3.00 lakhs farmers can obtain Kisan credit card from banks where banks provides loan up to Rs.l.60 Lakhs without security and with security up to Rs.3.00 lakhs loan. During recently held “State Credit Seminar” organized by NABARD, Chief Minister of Goa has stated that Kisan credit card is the Right of every farmers and appealed to all the banks to provide the loans generously to all the eligible farmers. All the eligible farmers are urged to seize their golden opportunity and avail themselves of the interest subsidy provided by Directorate of Agriculture. The Agriculture loan can be availed through all the banks including primary Agriculture cooperative Societies (PACS) and Vividh karyakari Sahakari Saunsthas (VKSS).
