Home » Budget News » Budget 2019: 2% interest subvention for farmers hit by natural calamities
 
SPEED NEWS

Budget 2019: 2% interest subvention for farmers hit by natural calamities

News Agencies | Updated on: 1 February 2019, 12:54 IST

Seeking to address distress in farm sector, Finance Minister Piyush Goyal Friday announced a 2 per cent interest subvention for farmers hit by natural calamities, while offering 3 per cent more to them for timely loan payment.

Goyal, who stepped in to present the budget for 2019-20 in the Lok Sabha in place of indisposed Arun Jaitley, also said also announced 2 per cent interest subvention for farmers involved in animal husbandry and fishery.

Farmers hit by natural calamities will get 2 per cent interest subvention and 3 per cent more on timely repayment of loans, he said.

Further, the finance minister said the government will provide Rs 750 crore to support animal husbandry and fishing.

He also said the government has fixed MSP for 22 notified crops at 50 per cent higher than cost of production.

Interim Budget 2019: In a first, defence allocation crosses Rs 3 trillion

There is need for structured income support for poor, landless farmers to meet input cost, the FM said, adding that the government will also implement special strategy for uplift of nomadic tribes.

-PTI

First published: 1 February 2019, 12:54 IST
 
PREVIOUS STORY
NEXT STORY